Initially, March 29 was the last date for manufacturers to apply for the benefits under the PLI (Production-Linked Incentive) scheme for specialty steel. It was later extended till April 30, and again to May 31, 2022. Then...
India exported 13.5 MT finished steel amounting to Rs 1 lakh crore and imported steel of around Rs 46,000 crore during FY22.
Following the sale, the company's holding in MSSSPL would become nil, M&M said in a regulatory filing. The Mumbai-based automaker will receive Rs 211.99 crore from the stake sale, it added.
Flat steel prices could rise 3-5 per cent this fiscal year after surging over 50 per cent in 2021-22.
On Thursday, the shares of Jindal Steel plunged as much as 6 per cent. At 2:38 pm, its stocks were down 2.6 per cent at Rs 541.
The domestic stainless steel manufacturing industry meets the bulk of its nickel requirements through ferronickel and stainless steel scrap.
The growth rate of the eight infrastructure sectors - coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity - had expanded by 6 per cent in February.
Rana Steel's TMT bars undergo rigorous testing to check for corrosion through stringent salt corrosion test methods.