In the second quarter, Tata Steel on November 13 reported a consolidated net profit of Rs 917 crore against a net loss of Rs 364 crore a year ago, mainly because of improved share in the domestic market coupled with better pricing and rising volume in its largest market, Europe.
Category: Materials
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JSWÂ’s Vijayanagar plant to run at full capacity
Due to iron ore supply issues, JSW SteelÂ’s Vijayanagar plant in Karnataka is currently running at 85 per cent capacity utilisation level. While the Supreme Court has approved the opening of 115 Category A and B iron ore mines in Karnataka, only 15 are up and running.
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JSW mulls to set up 5,000 retail shops in taluks
In the next five years, JSW Steel plans to open as many as 5,000 shops to sell custom-made steel to tap demand in rural and semi-urban India. The company believes that rising incomes in both rural and semi-urban areas in the country have boosted construction of homes and non-food spending.
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Global expertise in India
In the past three decades, the pre-engineered building system (PEB) witnessed a growth pattern parallel to the overall economic infrastructure of the country. A European technology, brought by middle-eastern companies to India, envisaged the market potential of PEBs in India.
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Ports with land banks should develop FTZs
India needs to learn lessons from the UAE and develop adequate high quality back up facilities for storage and warehousing to enable the global players do international trade through our ports, Pankaj Modi, Chief Operating Officer, Adani Ports and SEZ, tells Sumantra Das.
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Tata Steel plans furnace in UK to tap aerospace industry
Tata Steel is to construct a new 15-million pound vacuum induction melting (VIM) furnace at its South Yorkshire plant in the UK by 2015. The furnace is to develop innovative products for aerospace industry and tap new market opportunities. The furnace will enable the firm to increase its supply of high-purity steel to the aerospace industry.
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Indian steel output growth lower than world average
In September, India's steel production growth fell short of the world average with the country clocking 4.7 per cent growth compared to the world average of 6.1 per cent. The World Steel Association (WSA) said India's steel output grew to 6.54 million tonne (mt) in September from 6.24 mt during the same month last year.
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Rashtriya Ispat to invest Rs 60,000 cr to up capacity
To triple its capacity to 20 million tonne by 2027, the government-owned steelmaker Rashtriya Ispat Nigam (RINL) or Vizag Steel in Visakhapatnam/Vizag is planning to invest Rs 60,000 crore. RINL is in the process of stabilising new units under the current phase of expansion that got delayed by over a year following an accident at its Vizag plant.
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Steel makers in India told to produce high-grade products
Steel makers in India should adopt technologies for producing high-grade steels and avoid costly imports, said the Union Minister for Steel Beni Prasad Verma on September 4 in Delhi at a CII-organised event. India had imported 8 million tonne steel in the 2012-13 fiscal, up from 6.83 million tonne in 2011-12, and 6.66 million tonne in 2010-11.
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Tata Steel hopes to raise sales in FY14
Tata Steel, which sold 7.5 million tonne of steel in 2012-13, plans to raise the sale to 8.5 million tonne in the current financial year, which is a growth of around 13.3 per cent. The company is hopeful of raising sales in the current fiscal as it expects increase in demand following the monsoon season. During Apr-Jun 2013, the firm posted a year-on-year sales growth of 26 per