India will now face a lower reciprocal tariff of 10 per cent, down from 25 per cent, after US President Donald Trump announced a new global levy on items imported into America in the wake of the Supreme Court verdict against his sweeping duties on several nations.
From the Sensex firms, Tata Steel climbed the most by 3.40 per cent, followed by Power Grid, Axis Bank, Kotak Mahindra Bank, Larsen & Toubro, Bharat Electronics and Bharti Airtel. In contrast, Tech Mahindra, Maruti, UltraTech Cement and Bajaj Finserv were among the major laggards.
The Mumbai Bench of the National Company Law Tribunal (NCLT) on Tuesday gave its approval to Vedanta Limited's demerger proposal, clearing the way for the group to reorganise its operations into five distinct, sector-specific entities.
Vedanta, a conglomerate in mining and metals, has seen a surge in its share price on the back of multiple triggers. Its demerger appears to be on track, a strong non-ferrous commodity cycle is boosting margins, and silver bulls are interested in Hindustan Zinc, its subsidiary.
The Bharatiya Antariksh Station represents the next phase of India's human spaceflight ambitions, enabling long-duration presence in space, advanced microgravity research and technology development, and supporting future human exploration missions.
'Trump says India will buy over $500 billion of US goods.' 'At present, India's annual imports of goods and energy from the US are under $50 billion.' 'Reaching $500 billion would likely require more than 20 years, suggesting the figure refers to a long-term aspiration rather than a near-term commitment.'
Next week's three-nation foreign tour of Prime Minister Narendra Modi will see India and Oman sign a free trade deal. The visit will also pave the way for agreements with Ethiopia and Jordan to increase India's bilateral trade and investments.
Indian aluminium producers are one of the lowest cost producers in the world, which is a significant advantage.
Aluminium producers are pleasantly surprised, as the price of the base metal reached a 14-month high of $2,188 per tonne this week despite the absence of any surge in consumption.
The reduction in customs duties on non-ferrous metals would keep a check on a rise in prices, as landed cost of these would effectively reduce
The enduring relationship between the two countries have survived the disintegration of the erstwhile USSR in 1991, the end of the Cold War and the regime change in both countries, points out Rup Narayan Das.
'Our vision is to innovate as many products as we can and solve as many problems as possible.'
India is seeking either an exemption or a longer timeline on the pharmaceutical tariffs, expected to kick in by July 31.
Mutual funds' largecap investment universe is expected to see seven changes in the upcoming stock reclassification exercise by the Association of Mutual Funds in India (Amfi). According to a report by IIFL Securities, Hero MotoCorp, Zydus Lifesciences, JSW Energy, NHPC, Bharat Heavy Electricals, Bosch and Samvardhana Motherson are expected to earn upgrades in the revised list of largecap, midcap and smallcap stocks set to be released in the first week of July. Amfi revises the list at the start of January and July every year based on the previous six-month performance of the stock.
The comments came a day after US President Donald Trump said that Washington is "very close" to the trade pact with India.
Donald Trump's tariffs, meant as political punishment, have avoided the predicted chaos, lifting US growth, weakening rivals, and letting him claim victory in a resilient global economy, observes T T Ram Mohan.
Earlier, Trump has already talked about slapping "100 per cent tariffs" on the BRICS grouping, a bloc that includes India as well.
'The government is actively engaging with EU to ensure that concerns of Indian companies and hard-to-abate sectors are adequately addressed under CBAM'
The details of the project are yet to be worked out by the two companies.
Road awards were muted in Q1FY25. But the pace will accelerate with a bidding pipeline of Rs 1.1 trillion (September 2024), mostly dominated by HAM (Hybrid Annuity Model) projects, which contribute 47 per cent and engineering procurement and construction or EPC projects, which have about 36 per cent share. Hence, infrastructure companies mostly reported revenue decline on a year-on-year (Y-o-Y) basis in Q1FY25.
National Aluminium Company Ltd, the largest alumina-aluminium producer and exporter of the country, has planned a Rs 4000-crore investment in capacity expansion.
Industry observers were anticipating further divestment in the two public sector companies. The government has already divested about 13 per cent of its stake in aluminum producer Nalco and 0.41 per cent in the copper firm Hindustan Copper. Both, the companies are listed on the bourses.
India and the visiting US officials have decided to hold a wrap-up session on Saturday morning to conclude the three-day talks on the proposed bilateral trade agreement, government sources said. They said the discussions are at a "very" early stage.
Public sector blue chip firm National Aluminium Company, the largest manufacturer and exporter of aluminium in the country, proposes to make a foray into wind power generation.
'If you compare the data from 2017 and 2023 of the US imports from the world and China, you will see that the US was a complete loser in the trade war, and China was a complete gainer.'
Production of finished aluminium in National Aluminium Company Limited's smelter plant at Orissa's Angul stopped on Friday with its employees going on a strike, protesting the Centre's decision to divest 10 per cent stake of the company.
Currently, the public sector major has an inventory of 20,000 tonnes as against the usual level of 5,000 tonnes. Analysts expect the inventory to reach 25,000 tonnes by March-end. "We expect aluminium prices to remain below the cost of production for the next six to nine months," said Vipul Shah, an analyst with Mumbai-based brokerage K R Choksey Shares. "The outlook for aluminium is grim," he said.
A meeting of the board of directors of National Aluminium Company Ltd is scheduled to be held on January 30 to consider and take on record the unaudited financial results (provisional) for the three months ended December 31, 2002.
India's second-largest aluminium maker National Aluminium Company Ltd will take more time to complete an expansion of its smelter due to a delay in the arrival of some machines and equipments, a top industry source said on Wednesday.
The policies of the Indonesian government and a volatile political situation in Iran are keeping the aluminium major from setting up its plants entailing an estimated investment of over Rs 20,000 crore (Rs 200 billion), NALCO CMD C R Pradhan told PTI during his recent visit to Kolkata. Nalco was aiming to ramp up its production capacity to 2,10,000 tonnes per annum for the current fiscal. In 2010-11, the capacity would be scaled up to 2,60,000 tonnes.
Mines Minister B K Handique said that his ministry is not in favour of any further equity dilution in the navratna PSU.
Stocks of government probables for divestment or stake sale such as Steel Authority of India (SAIL), Mahanagar Telephone Nigam (MTNL), National Aluminium Company (Nalco) and Container Corporation (Concor) have outperformed the markets in the past one year.
The mines ministry has sought Prime Minister Manmohan Singh's intervention in bailing out aluminium giant Nalco of the acute paucity of coal, which has forced the PSU to close down two of its captive power plants.
The re-opening of the Chinese economy, as it moves away from its zero-Covid policy, could help stabilise commodity prices, according to some of the country's top metal companies. They view this as a positive for demand, at a time when markets such as the US and Europe have been largely weighed down by slowdown concern now. "Most of us in the metals business are hoping the Chinese economy picks up because half of any metal demand, including demand for aluminium, comes from China.
National Aluminium Company (Nalco) has chalked out plans to enter the power business through the special purpose vehicle (SPV) route. The company plans to produce over 2000 MW by 2016.
The National Aluminium Company (Nalco), India's second largest producer of the base metal, avoided a production cut by offering discounts to its key clients that helped it boost sales and trim rising inventory.
Here is a list of Q & As to explain these issues and implications of the US move.
National Aluminium Company Ltd has won the Engineering Export Promotion Council's All India Export award in the "star performer" category for 2005-06, the firm said on Friday.
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