India's steel demand to grow as China's declines: Moody's
China's overcapacity and India’s capacity growth will likely hurt steel prices, says Moody's Ratings
China's overcapacity and India’s capacity growth will likely hurt steel prices, says Moody's Ratings
The share price of the steel major rebounded 2.5% to ₹118.40, after falling nearly 1% in opening trade on the BSE.
Indian steel companies face a bumpy road ahead as the external environment becomes more challenging due to elevated inflation, energy prices and rising interest rates.
The EBITDA per tonne of steel companies declined primarily due to steep fall in steel prices
Waning demand of steel in global market forces JSW Steel to cut capex by 25% in current fiscal.
Tata Steel, JSW and SAIL ramp up steel production capacities, eyeing a slice of international market also.
Experts, however, say that the government will need to do a balancing act as the move may hurt domestic manufacturers.
Fortune India spoke to Tata Steel MD and CEO T.V. Narendran after the company announced a 661% jump in net profit in Q2 FY22.
At the annual Fortune India Next 500 summit, minister of steel Chaudhary Birender Singh says he wants India’s steel industry to be number one in terms of quality in global rankings.
Higher steel prices and robust demand drove JSW Steel’s fourth quarter sales and profit, while a one-time gain pushed Tata Steel’s bottomline.