ORISSA SPONGE IRON STEEL LTD Q2 RESULTS
Q1 results shocker: 40 companies report more than 50% drop in profit
The profits of 40 Indian companies have plummeted by more than 50% in the June quarter, primarily due to higher raw material costs and unfavorable base effects. Notable names like Allcargo Logistics and Rajesh Exports saw drastic declines. Analysts suggest cautious investment strategies amid high market valuations and slowing profit growth.
JSW Steel shares drop 3% post 64% YoY fall in Q1 profit. Should you still invest?
JSW Steel saw a 2.5% drop in shares after reporting a 64% decline in net profit for Q1. Brokerage firms have mixed views on the stock, with varying target prices. Despite challenges, the company remains optimistic about growth prospects.
10 Best Three Burner Gas Stoves for Effortless Cooking
Discover the best three burner gas stoves that combine efficiency, safety, and modern design. This article reviews leading models, highlighting their unique features such as auto-ignition, spill-proof trays, and durable brass burners. Perfect for multitasking in the kitchen, these stoves promise enhanced cooking experiences with consistent performance and stylish aesthetics.
Best Tawa under your budget for effortless and reliable cooking
With a market overflowing with options, how do you choose the tawa that cooks your rotis to perfection? Fear not, as we present you with one of the best tawas available in India! Let this article guide you to your new durable and reliable cookware, for we want only the best delivered at your doorstep.
10 Best Kadais with Lids for Even Cooking: Master your Culinary Skills like a Pro
Explore a diverse collection of kadai with lids, offering convenience and versatility in your kitchen. Whether you prefer non-stick coatings for easy cooking and cleaning or the durability of cast iron, there's a kadai to suit every cooking style. With features like sturdy handles, scratch-resistant surfaces, and induction compatibility, these kadais are designed to enhance your cooking experience. From traditional Indian flavours to modern culinary creations, find the perfect kadai to elevate your cooking game.
Vraj Iron, Allied Blenders get Sebi nod to raise fund through IPO
Chhattisgarh-based Vraj Iron and Steel and Allied Blenders has received capital markets regulator Sebi's go-ahead to raise funds through respective IPOs.
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Vedanta Q3 Results: Cons PAT falls 18% YoY to Rs 2,013 crore, revenue up 4%
Sequentially, the revenue declined by nearly 9%. For the quarter ended September, the company posted a loss of Rs 1,783 crore.
JSW Steel Q3 Results: Cons PAT soars 5x YoY to Rs 2,415 crore, beats estimates
JSW Steel Q3 Results: Consolidated revenue from operations rose 7.2% year-on-year (YoY) to Rs 41,940 crore but trailed estimate of Rs 42,527 crore.
Q3 Results Today: SBI Life, JSW Steel, Vedanta, Adani Power among 84 companies to announce earnings
On the last trading day of this week, 84 companies listed on the BSE will announce their December quarter earnings. Among the Nifty companies, SBI Life Insurance Company and JSW Steel will report their Q3 earnings. Street will also keeping a close track on the earnings of ACC, Adani Power, AU Small Finance Bank, Cyient, Equitas Small Finance Bank, Hindustan Petroleum Corporation (HPCL), Indian Energy Exchange.
Vedanta Q3 Result Preview: Higher prices may drive EBITDA; all eyes on debt reduction roadmap
The company is expected to report consolidated revenue of Rs 33,676-35,477 crore, according to estimates given by three brokerage firms. This is compared to a revenue of Rs 34,102 crore a year ago and Rs 34,184 crore a quarter ago.
Tata Steel Q3 Result Preview: Co may post PAT vs loss a year ago; all eyes on UK ops roadmap
The steelmaker is seen reporting a consolidated net profit of Rs 608 crore for the quarter ended December, according to the average of estimates given by 10 brokerage firms. This is against a net loss of Rs 2,600 crore posted a year ago and Rs 6,600 crore a quarter ago.
Next 2 quarters will be good for cement; what to buy in commodities? Rakesh Arora answers
Rakesh Arora discusses the outlook for the commodity sector, highlighting the factors that are supportive of a commodity price rally, such as China's potential stimulus and weaker US dollar. However, he notes that demand is still missing and China's production and export of surplus metal are pushing prices down. Arora also explains the divergence between the mining and processing industries, with mining commodity prices going up while steel prices come down. He suggests that it may be safer to invest in mining commodities.
Jindal SAW Q3 Results: Profit grows twofold; order book swells
India's Jindal SAW on Tuesday reported an over twofold growth in its third-quarter profit, as demand in the Middle East and North Africa (MENA) region remained steady and its order book grew.
Europe's green steel mandate rocks Indian steel exports
Europe's Carbon Border Adjustment Mechanism (CBAM) scrutinizes high-carbon emissions in imported steel, impacting Indian exporters reliant on polluting processes. CBAM's initiation prompts India's shift towards greener steel production. India emits more carbon (2.6 tons per ton of steel) compared to the global average (1.85 tons), affecting potential duties. Steel exports of Rs 51,334.03 crore faced decline, with key markets in Europe. Indian strategies focus on Net-Zero targets by 2070, embracing Green Hydrogen and Carbon Capture technologies.
No significant improvement in Tata Steel’s UK biz but better numbers will come out of the Netherlands in Q3 and Q4: TV Narendran
“There was not much volume growth in H2 because all our operations are running at full capacity. The only one which we were ramping up was Neelachal which is also running at full capacity. I see marginal volume growth if at all. There will be volume growth next year when the Kalinganagar 5 million ton completion would have happened.”
Tata Metaliks Q2 Results: Net profit grows three-fold to Rs 44 crore
Total income fell to Rs 758.05 crore from Rs 881.77 crore in the year-ago quarter.
Tata Steel Long Products Q2 Results: Net loss narrows to Rs 460 crore
It had clocked a net loss of Rs 661.80 crore in the year-ago period, the company said in a regulatory filing
JSW Steel Q1 Results: PAT surges 189% YoY to Rs 2,428 crore; revenue up 11%
Consolidated crude steel production for the quarter stood at 6.43 million tonnes, higher by 11% YoY and lower by 2% QoQ. The company had taken certain scheduled shutdowns at Indian operations during the quarter, hence the average capacity utilisation for Q1FY24 was 92% compared to 96% in Q4FY23, the exchange filing said.
Steel companies' Q1 margins hit by rising costs, low prices
The operating profit of steelmakers is estimated to have dipped by ₹2,000-3,000 per tonne of metal sold during the April-June period compared to the preceding quarter, experts said. Steel prices and sales volume during the quarter dipped sequentially while input costs continued a northward march, resulting in lower profitability, they said.
Q4 results today: What to expect from NTPC, Zomato, JSW Steel, Punjab National Bank, Delhivery and Bandhan Bank
Zomato is expected to report tepid sequential revenue growth for the quarter ended March, mainly on account of lower food delivery orders. Revenue is seen growing by a meagre 2.2% quarter-on-quarter to Rs 1,991 crore. However, revenues for the quarter are seen growing 64% year-on-year. Losses for the quarter are likely to shrink, when compared with the preceding December quarter, to Rs 345 crore, according to analysts estimates.
Jindal Steel Q4 Results: Profit plunges 69% YoY to Rs 462 crore
Revenue from operations, too, dropped 4% to Rs 13,691 crore during the reporting quarter, compared with Rs 14,339 crore in the year ago quarter. The board has recommended a final dividend of Rs 2 per equity share of the face value of Rs 1 each for the financial Year 2022-23.
Tata Steel Q4 Results: Profit falls 82% YoY to Rs 1,705 crore; revenue drops 9%
Revenue from operations too were down 9% year-on-year (YoY) to Rs 62,961 crore for the March quarter. It was Rs 69,323 crore in the same quarter of last year
Tata Steel Long Products Q4 Results: Firm reports Rs 184 crore loss
Tata Steel Long Products (TSLP) has posted a standalone loss of Rs 184.11 crore during the fourth quarter of financial year 2022-23, on account of increased expenses. The company had reported a net profit of Rs 59.62 crore during the January-March period of fiscal year 2021-22, TSLP said in a regulatory filing on Tuesday.
Sectoral Spotlight: Metals in focus as Q4FY23 earnings season kicks-off; watch out for SAIL, Hindalco
Brokerage firm PhillipCapital is optimistic about the sector, estimating a robust Q4FY23 quarter for almost all metal companies. It has also identified stocks in ferrous, non-ferrous space that are expected to perform well.
Jindal Stainless Q3 Results: Net profit falls 28% on lower exports
The New Delhi-based company's revenue from operations climbed 12% to Rs 6,350 crore from Rs 5,670 crore a year earlier
Hariom Pipe shares zoom 12% to hit 52-week high
Hariom Pipe Industries is a manufacturer of iron and steel products. The company evolving into an integrated steel manufacturer with a stronghold in the South Indian market. With a diverse product portfolio consisting of Mild Steel (MS) Billets, Pipes and Tubes, Hot Rolled (HR) Coils and Scaffolding Systems, its products cater to a variety of industrial applications across multiple sectors.
Jindal Steel & Power Q2 Results: Profit nearly halves on high input costs
“The steel industry has been in a death spiral,” Bimlendra Jha, the newly appointed managing director of JSPL told ET. He was referring to the sharp and continuous dip in steel prices that has followed after the alloy reached historically high prices in April this year.
Tata Metaliks Q2 Results: PAT falls 74% YoY to Rs 14 crore
Sandeep Kumar, Managing Director of Tata Metaliks, said: "Pig iron market demand is expected to continue to be under pressure due to oversupply in the domestic market. Although post festive season, demand and utilisation levels are expected to be better from Nov '22."
Corporate Radar: Dalmia Bharat, BSE to turn ex-dividend; HUL, Canara Bank AGMs; Q4 results & more
Shares of Banas Finance will turn ex-rights today. The company had announced a rights issue of 24 shares for every 25 shares held, offered at Rs 20 apiece.
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