STEEL INDUSTRY
Piyush Goyal pitches India as safe investment haven amid global turmoil, highlights $85 trillion market access
Union Minister Piyush Goyal highlighted India's commitment to global investors through stable policies and fair laws. He emphasized that India has signed trade agreements benefitting nearly $70 trillion of global GDP, expanding market access for its goods and services. Goyal assured investors about intellectual property protection, underlining that technology is not appropriated. He noted India's reliability demonstrated during the COVID-19 pandemic by supplying essential goods to over 100 countries.
MSCI rejig: LIC, Meesho, Coforge set to gain from index inclusion. How much inflows could they attract?
MSCI’s November index rejig will add LIC, Coforge, Meesho and Adani Green to its Standard Index, while removing PI Industries. Nuvama estimates the changes could trigger around $2 billion in passive inflows into Indian equities. Several stocks will also see weight adjustments, while the Smallcap Index will witness fresh additions and exclusions, creating potential stock-specific inflows and outflows.
NCDEX launches India's first steel scrap futures contract to help industry hedge price risks
NCDEX has launched India's first PRA-based steel scrap futures contract, offering steelmakers and traders an organised hedging mechanism. Based on HMS 80:20, the cash-settled contract aims to improve price transparency and benchmark discovery.
NCDEX launches India's first steel scrap futures contract: Key details
NCDEX has launched India's first price reporting agency-based steel scrap futures contract, introducing transparent price discovery and hedging opportunities. Based on HMS 80:20, the cash-settled contract aims to organise India's growing steel scrap market.
Army transformation goes beyond modern equipment and restructuring: General Dhiraj Seth
The COAS delivered an address on "Vision for Future Warfighting in the Indian Subcontinent" at the Mechanised Forces Symposium 2026, held at Manekshaw Centre, New Delhi. The two-day symposium, organised by the Cavalry Officers' Association in collaboration with the Directorate General of Mechanised Forces, brings together senior serving officers, veterans, defence scientists, industry representatives and strategic thinkers to deliberate on the changing character of warfare.
JSW Steel crude steel production rises 19 pc to 25.73 lakh tonnes in Oct
JSW Steel reported a 19% increase in crude steel production, reaching 25.73 lakh tonnes in October. The Indian operations contributed the majority of this production, totaling 24.86 lakh tonnes for the month. Additionally, JSW Steel USA-Ohio recorded a modest increase in steel output, totaling 0.87 lakh tonnes.
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China is building inside Europe's trade walls, deepening its grip on critical industries
(The opinions expressed here are those of the author, the director of the Geoeconomics Program of the Center for the Study of Democracy)- China doesn't
India well on track to achieve $1 trillion exports target for FY27: Piyush Goyal
Commerce Minister Piyush Goyal said India is on track to achieve its $1 trillion goods and services export target in FY27, having already recorded nearly $480 billion in exports during April-September. He highlighted opportunities from free trade agreements, particularly the proposed India-EU pact, for the automobile and mobility sectors. Goyal urged manufacturers to expand globally, boost competitiveness and leverage international partnerships to drive exports, investment and employment.
PHD Chamber seeks capital gains tax rationalisation, doing away with BCD on feedstock
The PHD Chamber of Commerce and Industry has urged the government to abolish long-term capital gains tax on equity investments, cut short-term capital gains tax to 10% and reduce securities transaction tax (STT) rates in its pre-Budget recommendations for FY28.
Up to 12,000% growth! 181 companies more than doubled profits in Q2 earnings boom for India Inc
India Inc witnessed a strong earnings recovery in Q2 FY27, with 181 companies more than doubling their net profits year-on-year, according to Ace Equity data. Gains spanned banking, metals, energy, pharmaceuticals and consumer sectors. From Indian Oil and JSW Steel to Paytm and Lenskart, here are the biggest profit gainers and what drove their growth.
Whirlpool hikes prices by 5% from November 1 amidst inflationary heat
Whirlpool of India Limited announced a five percent price increase on all products, effective November 1, 2026. This decision aims to address cost pressures stemming from commodity inflation and rising crude oil prices. The price hike occurs ahead of the peak Diwali season, which is vital for consumer sales. The company faces challenges due to new energy regulations and increased production costs.
Q2 Earnings Scorecard: Which sectors outperformed and which fell behind?
The September quarter results indicate strong revenue and profit growth in sectors like automobiles and banking. In contrast, sectors such as IT and pharmaceuticals showed weakness amid inflationary pressures. Automobile sector leaders like Maruti Suzuki and Bajaj Auto reported significant growth in sales and exports. L&T's orders surged, while the cement sector faced challenges with fluctuating prices.
Jindal, Italy's Arvedi bid for former Ilva steelworks
Jindal and Italy's Arvedi Group have submitted binding bids for the troubled Ilva steelworks. The site is currently overseen by government-appointed commissioners due to long-standing financial issues. Prime Minister Giorgia Meloni's government aims to secure the site's steel production and protect jobs. Complications have arisen after a court ruling mandated the shutdown of blast furnaces due to health concerns.
Stock Picks of the Week: 5 stocks with consistent score improvement and upside potential of up to 35% in 1 year, according to analysts
The market weathered a whole bad patch with almost no FPI money coming in. But it cuts the other way too. When so little has been flowing in, even a small amount of FPI buying can move the market more than it normally would. That said, the mood has turned from bearish to cautiously optimistic, thanks largely to dropping oil prices. None of that changes your basic job as an investor: Study companies, look at earnings, and keep quality front and centre.
Samvat 2083 stock picks: 10 ideas from India’s top brokerages for the next Diwali
Brokerages have identified 10 stocks across banking, defence, hospitality, quick commerce, consumption and manufacturing for Samvat 2083. Kotak Mahindra Bank, Bharat Electronics, Indian Hotels, Adani Ports and Eternal feature among their picks, backed by earnings visibility, strong balance sheets and structural growth opportunities. Their target prices suggest further upside potential.
Global Market Today: Asian stocks open mostly higher, Nvidia probe looms
Benchmark stock indexes rose in Japan and Australia after a gauge of US semiconductor shares jumped 4.2% on Friday as speculation about possible tighter Democratic party regulation of the artificial intelligence industry eased. The MSCI Asia Pacific Index of equities gained 0.5%.
India targets 300 million tonnes of steel production by 2030, 500 million tonnes by 2047: G Kishan Reddy
India's Union Minister G Kishan Reddy announced plans to boost steel production significantly by 2047. The goal is to reach 300 million tonnes by 2030 and 500 million tonnes by 2047. Steel is essential for construction, linking to the aspirations of people for housing. The government also aims to increase iron ore production and improve raw material availability for the steel industry.
BMW Industries Q2 Results: Net profit rise 43% YoY to Rs 21.62 crore
BMW Industries Ltd has reported an impressive 42.7 percent increase in net profit for the quarter ending on September 30. The firm's total income surged by 33 percent compared to the same quarter last fiscal year, while EBITDA rose by 25 percent, showcasing its resilience and growth. Notably, the new greenfield downstream steel complex in Bokaro commenced operations, with future plans focused on optimizing capacity utilization across these facilities.
Jai Balaji Group plans Rs 6000 crore investment in West Bengal for steel and renewable energy sectors
Jai Balaji Group has announced an investment proposal of around Rs 6,000 crore in West Bengal. This investment focuses on specialized steel for railways, defense and aerospace applications, along with renewable energy initiatives. The expansion is expected to create over 20,000 employment opportunities in the region. Additionally, the company aims to enhance its production capabilities in precision engineering and specialized copper products.
ArcelorMittal reports USD 391 million loss in July-Sept quarter
ArcelorMittal reported a net loss of USD 391 million for the September quarter due to rising energy costs. The company's sales increased to USD 16,466 million while steel production saw a slight rise. Adjusted net income grew to USD 0.9 billion, indicating improvement in earnings capacity over time. AMNS India, its joint venture with Nippon Steel, also reported increased EBITDA for the same period.
NCDEX partners with BigMint to enhance price transparency in steel scrap market
NCDEX has signed a strategic collaboration with BigMint to create a benchmark for steel scrap pricing. This partnership aims to improve price transparency and reliability for the steel industry in India. BigMint will provide daily spot price assessments, which will be used for settlement of new steel scrap derivatives contracts. The contract is expected to help participants manage price risks more effectively.
US tariffs squeeze Canadian cabinet makers facing doubling of Trump duty
As US tariffs on Canadian kitchen cabinets are set to double to 50%, the industry faces significant challenges. Companies like Cabico are considering relocating production to the US to mitigate costs. Many cabinet manufacturers have experienced reduced shipment volumes and workforce cuts due to tariffs. The Canadian government has proposed a provisional 25% surtax, but manufacturers want stronger measures.
Weekly Top Picks: These stocks scored 10 on 10 on Stock Reports Plus
Stock Reports Plus, powered by Refinitiv, undertakes detailed company analysis for 4,000+ listed stocks. In addition to detailed company analyses, the report also collates analysts’ forecasts and trend analysis for each component. An average score in Stock Reports Plus is calculated by undertaking quantitative analysis of five key investment tools – earnings, fundamentals, relative valuation, risk, and price momentum.
Ripik.ai in talks to raise Rs 150 crore from Gaja Capital
The startup deploys its hardware and software systems at large manufacturing and industrial units, including cement and steel plants, using cameras, sensors and proprietary AI models to monitor equipment, materials and production processes. It counts Accel and Venture Highway (now merged with General Catalyst) among its existing investors.
Sajjan Jindal likely to lay foundation of second Bengal unit in January, says CM Suvendu Adhikari
Chief Minister Suvendu Adhikari announced discussions with industrialist Sajjan Jindal regarding investments in West Bengal. Jindal plans to conduct a bhumipujan for his second unit in January 2027. The meeting focused on potential investments in various sectors including power and steel. Jindal also expressed intentions to engage in ITI skill training initiatives. Additionally, he plans to renovate several temples in coordination with the government.
JSW Group's Sajjan Jindal meets Bengal CM Suvendu Adhikari to discuss investment plans
Sajjan Jindal's JSW Group had signed a historic agreement during the Left Front regime in 2007 to set up a mega integrated steel, power, and cement complex in West Midnapore's Salboni, which was around Rs 35,000 crore, it was the single largest private investment ever pledged to West Bengal at the time.
South Carolina used 50 retired shipping containers to create two artificial reefs in 2005; the containers were prepared to provide shelter for marine life
Off the coast of South Carolina, the innovative use of steel shipping containers as artificial reefs is becoming increasingly popular. By repurposing these structures, diverse fish species gain new habitats while supporting eco-friendly waste management. The Army National Guard collaborates with the South Carolina Department of Natural Resources, ensuring that only non-toxic materials are employed in this initiative, which significantly mitigates habitat destruction in marine ecosystems.
Out of Europe? India's steel MSMEs battle data gaps, rising cost and EU's carbon wall
Smaller Indian steel exporters say they are struggling to obtain emissions data from raw-material suppliers and bear the cost of carbon accounting and verification under the EU’s carbon border rules.
In Burgos, Spain, engineers turned steelmaking waste into full-size pavement slabs; five years outdoors caused no major damage, and skid resistance stayed road-safe
In an innovative endeavor, engineers from Burgos, Spain, developed sustainable pavement utilizing waste from steel production, significantly cutting down on industrial refuse. Their five-year study, monitoring large-scale pavement slabs in real environments, revealed that the pavement exhibited no major structural issues or safety risks related to skid resistance. This breakthrough paves the way for eco-friendly infrastructure methods in construction, promoting the recyclability of industrial byproducts.
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