The economy is in desperate need of a policy boost from the Indian Government for its revival. Infrastructure will be the focus area in this year's upcoming budget.
Following price hike of Rs 500 per tonne by Steel Authority of India Ltd, other private producers on Monday announced hike in prices of hot rolled coils by the same amount.
Leading steel manufacturers SAIL and Essar Steel on Friday refuted the charges of 'cartelisation' and 'unfair trade practices', levelled by ancillary steel producers, by attributing steep hike in HR Coil prices to sky-rocketing raw material costs.
Prices of key inputs up 44% to 74%; analysts expect earnings squeeze after a quarter or two.
Considering rising dumping of steel into India, steel sector seeks hike in customs duty on steel and steel products from 5% to 15%, and hike export duty on iron ore.
Major steel producers, including SAIL and Tata Steel, on Monday agreed to cut prices of TMT bars, galvanised steel and HR coils after the government asked them to contain prices to keep inflation under check.
Domestic steel prices have seen an increase over the past couple of months in anticipation of a safeguard duty, but a looming global trade war is likely to weigh as threat of import rises and prospect of export flounders. Data from BigMint showed that in March 2025, hot rolled coil (HRC) prices ex-Mumbai increased by Rs 600 per tonne month-on-month (M-o-M), rising from Rs 48,400 per tonne in February to Rs 49,000 per tonne.
According to a commerce and industry ministry statement, the growth rate for these eight key sectors for April 2019 has been revised upward to 6.3 per cent from 2.6 per cent reported earlier mainly due to upward revisions in production of coal, crude oil, steel, cement and electricity.
Ispat Industries Limited is planning to market its newly developed 1.2 mm and 1.6 mm hot rolled coil to the carmakers of the US after completing second phase of their HR capacity expansion programme by April-May this year.
Proposal to provide weighted deduction at 150 per cent of expenditure incurred on skill development in manufacturing sector.
"Lady candidates need not apply." So read the postscript in a job notice from Telco (now Tata Motors) on a notice board in the corridors of the Indian Institute of Science, Bangalore (now Bengaluru), in 1974. Irked, Sudha Murty, who was then pursuing her masters in computer science at the institute, wrote a postcard to JRD Tata, expressing her surprise at this gender discrimination, especially since the Tata Group were pioneers on many fronts. Shortly, Murty became the first woman on the firm's shop floor.
ICICI Bank was the top gainer after stable rating for its senior unsecured bonds by S&P Global Ratings.
Investors sought to book profits at attractive valuations after recent run up in last few trading sessions.
