During Apr-Jul 2013, consumption of finished steel in India rose just 0.2 per cent to 24.1 million tonne (mn t) on year-on-year basis. During the same period, steel output grew 3.1 per cent to 26.1 mn t, from 25.3 mn t during the year-ago period. The muted growth in steel consumption is attributed to poor off-take by large sectors like construction and auto
Author: admin (Infratructure Today)
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Steel Exchange posts profit in June quarter
The standalone net profit of Steel Exchange of India stood at Rs 2.71 crore during Apr-Jun 2013 compared to a net loss of Rs 13.10 crore in the year-ago period. The standalone sales turnover of the firm rose to Rs 310.55 crore from Rs 292.43 crore in the year-ago period. Other income for the quarter declined to Rs 0.91 crore from
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Rupee depreciation to hit steel firms
Analysts feel that the depreciation of rupee against the dollar may affect the bottomlines of steel companies further. Already, companies like JSW Steel, Steel Authority of India (SAIL) bore the brunt because of the unfavourable exchange rate. The depreciating rupee may further hurt the cost of production of steel companies in turn affecting their mar
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RINL may rope in NMDC for Rs 20 bn STML project
Rashtriya Ispat Nigam' (RINL) may rope in either MOIL or NMDC for its Rs 2,000 crore joint venture project as BHEL is bot keen on the project. Earlier, BHEL and RINL planned to set up a seamless tube mill (STML) with an annual production capacity of four lakh tonne per annum. BHEL requested NMDC to join in the proj
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ONGC mulls to develop 3 fields to double its Cauvery gas output
In Tamil Nadu, ONGC Cauvery Asset is planning to develop three gas fields to double the gas production from Cauvery Basin. A meticulous action plan is being worked out to develop three gas fields - Ramnad, Periakudi and Bhuvanagiri, the company said on August 15. Within the next 1 to 2 years, the company expects to increase the gas production to 6 million cubic meters per day.
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Oil firms may cut petrol prices by more than 1 Re
Considering the latest fall in international oil rates, oil firms in India plan to slash petrol prices by more than one rupee per litre shortly. But the oil companies may have wait for the Parliament's decision to hike diesel prices.
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WB to implement LPG direct cash trasfer from Jan
In West Bengal, the Direct Benefit Transfer (DBT) scheme for LPG consumers will be implemented from January 1st by transferring the subsidy directly to consumers' bank account in three districts - Kolkata, Howrah and Cooch Behar.
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OMCs may raise petrol, diesel prices
The continuing depreciation of rupee and the rise in global crude oil price may prompt state-run oil marketing companies (OMCs) to raise diesel and petrol price, reports indicate. While the global crude price rose to 108.5 per barrel recently, the Indian rupee rose up to 62 a dollar in recent session. In rupee terms, the crude price increased to Rs 6,68
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Essar Oil loss declines in Q1 June
Essar Oil, a fully integrated oil and gas company of international scale, reported a net loss of Rs 863 crore in Q1 June 2013, lower than net loss of Rs 1,518 crore in Q1 June 2012. Revenue rose 12 per cent to Rs 24,721 crore in Q1 June 2013 over Q1 June 2012, on the back of 15 per cent improvement of throughput, which stood at 5.14 million metric tonne (mmt) in Q1 June 2013, against 4.48 mmt in Q1 June 2012.
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Udupi rural roads to get priority: Minister
The Karnataka government has set aside Rs 10.13 crore for maintenance of rural roads in the district for 2013-14, the Udupi district in-charge Minister Vinay Kumar Sorake has said. Udupi will be developed as a heritage city under the capacity building project of the Union government and tourism will be given more priority.