According to a survey by Kotak Institutional Equities, steel prices in India have started to firm up, with long/flat prices rising 10%/4% over the previous two months. The firm domestic demand and the most recent jump in the price of raw materials, it was stated, are driving the price strength. “Weaker monsoon and seasonal restocking…
The Center will shortly launch a financial bid process for the privatization of NMDC Steel with a goal of concluding the deal in early 2023–2024. The share price of NMDC Steel increased 4.88% to settle at Rs 33.3 on Tuesday after going public at Rs 30.25 on Monday. The Centre’s 60.79% stake was valued at…
NMDC’s three million tonnes per annum (mtpa) greenfield steel plant at Nagarnar in Chhattisgarh is likely to be operational towards the end of September, after a delay of nearly seven years. The state-run company spent Rs 20,240 crore as of May this year for the plant and is likely to spend another Rs 1,700 crore…
