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A record 200 mineral blocks will be sold in 2025-26. This is the highest ever in a single year. Tamil Nadu is conducting auctions for the first time. Uttarakhand is also entering the framework with its first magnesite block. Gujarat, Rajasthan, and Tamil Nadu are leading the auctions. This initiative strengthens the national auction ecosystem. View More
New Delhi: The Centre on Thursday said it has sold a record 200 mineral blocks in 2025-26, the highest ever in a single year, with Tamil Nadu conducting auctions for the first time and Uttarakhand entering the fray by selling its maiden magnesite block. Out of the 200 auctioned blocks, 123 are mining lease blocks and 77 are composite licence blocks, indicating a balanced mix of operational and exploration-focused opportunities. Also Read: JSW Steel to develop coking coal mine in Mozambique Additionally, notices inviting tenders (NITs) for 70 mineral blocks -- 38 mining leases (ML) and 32 composite licences (CL) -- are currently underway which is likely to further boost the total number of successful auctions in the financial year. Gujarat led with 32 blocks, followed by Rajasthan with 30 blocks, and Tamil Nadu with 22 blocks, emerging as the top contributors, the Mines Ministry said in a statement. Live Events Their efforts in timely block preparation, data management, and procedural efficiency have strengthened the national auction ecosystem. Also Read: Coal paying important role in India's energy security amid Israel-Iran war Notably, Tamil Nadu has successfully conducted mineral block auctions for the first time, marking an important milestone. Uttarakhand has also entered the mineral auction framework with the successful auction of its first magnesite block, the ministry said. The ministry further said that in this year, 22 critical mineral blocks were auctioned, reflecting the increasing focus on minerals of strategic importance for long-term resource security. Rajasthan, Chhattisgarh, Odisha, Karnataka, and Maharashtra played a major role in offering these blocks, contributing five, four, four, three and two blocks respectively. The country’s most definitive MSME stage returns on March 24 in New Delhi. Register now for the ET MSME Awards 2025 .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)
Vibhor Steel Tubes announced a new order worth ?16.87 crore for transmission towers from Agrawal Infracab Pvt Ltd, attracting investor interest. The company reported a 23% revenue increase in Q3FY26, although net profit fell to ?1.66 crore compared to last year. View More
The Investing Club holds its "Morning Meeting" every weekday at 10:20 a.m. ET. View More
Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. ET. Here's a recap of Thursday ' s key moments. 1. Stocks fell Thursday as oil prices continued higher. Brent international crude briefly touched $119 per barrel after Iran attacked a key LNG facility in Qatar. Tehran said it was in retaliation for an Israeli strike on one of its energy centers. For the first time since last May, the S & P 500 slipped below its 200-day moving average, a technical level that many long-term investors look to for support. Jim Cramer did welcome a pullback in other commodities, including aluminum and steel, because rising raw material prices can fuel inflation. If inflationary problems reignite, that may make it tough for the Federal Reserve to cut interest rates even when President Donald Trump 's pick for central bank chairman succeeds Jerome Powell. 2. Eli Lilly said Thursday that a Phase 3 study of retatrutide in type 2 diabetes offered superior weight loss versus Mounjaro, also for type 2 diabetes, with no plateau through 40 weeks. Lilly shares were not moving on the news, most likely because this once-a-week injection is not expected to be as big of an opportunity as the company's new GLP-1 pill, which is expected to be approved by the FDA in early next month. Health-care stocks, normally sought out as defensive plays in times of turmoil, have struggled. We have been using that weakness to build our Cardinal Health position. 3. Jim reiterated his "own, don't trade" stance on AI chip leader Nvidia as shares on Thursday were declining for the third straight session. He believes the stock can go higher if flash memory product supplier Sandisk "crosses over to the positive." While down more than 1% on Thursday, Sandisk has had an incredible run, gaining more than 1,200% over the past 12 months. If Sandisk's momentum improves, it would signal healthier spending on data center buildouts, which Jim said could support the broader AI ecosystem that Nvidia dominates. 4. Stocks covered in Thursday's rapid fire at the end of the video were: Five Below , Nucor , Darden Restaurants , Align Technology , and Uber . (Jim Cramer's Charitable Trust is long LLY, CAH, NVDA. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
US-Israel Iran War: JSW Steel Coated Products, a major Indian steel producer, is asking the government for help to secure vital gas supplies. The ongoing conflict in the Middle East has disrupted shipments, impacting production. This could lead to shortages for downstream customers in sectors like food packaging and infrastructure. Other smaller steel producers also face similar challenges. View More
New Delhi: India's JSW Steel Coated Products, a unit of JSW Steel , has sought government intervention to secure supplies of liquefied natural gas and propane to prevent output disruptions amid shortages caused by the Iran war, according to a letter reviewed by Reuters. Click here for live updates on the US-Israel Iran War "Any disruption in our production will have an adverse impact on our downstream customers and may lead to supply deficit in these sectors," the company said in its letter to the federal steel secretary on March 10. JSW Steel Coated Products is India's largest manufacturer of coated steel products, or value-added steel goods, according to the company, and caters to sectors including food packaging, engineering and infrastructure. JSW declined to comment. Mounting gas shortages have already disrupted operations at some steel plants of India's top metals conglomerate JSW Group, with one unit facing a potential shutdown in the coming days, Reuters reported earlier this week. India's small steel producers have warned of production halts due to gas shortages, Reuters reported earlier. Live Events Also Read: West Asia war: Key Qatar, Iran, Abu Dhabi and Saudi energy sites targeted so far India has invoked emergency measures, prioritising natural gas for essential sectors after LNG shipments through the Strait of Hormuz were disrupted by the ongoing conflict in the Middle East, constraining domestic supply. The country’s most definitive MSME stage returns on March 24 in New Delhi. Register now for the ET MSME Awards 2025 .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)
Indian steel prices have seen a significant jump. This rise is linked to an extended safeguard duty on imports. Strong domestic demand is also a key factor. Global events are influencing exports, but local consumption remains high. Major steel companies are performing well. View More
Mumbai: An 18-25% surge in domestic steel prices over the past three months underscores extension of a safeguard duty on imports of the commodity. Prices of hot-rolled coils are currently at Rs 55,900 per tonne, up from Rs 47,317 in the December quarter, while primary rebar prices are trending at Rs 59,800 a tonne, compared to Rs 47,615. Also Read: UK to tighten steel import quotas, hike tariffs to shield domestic industry Prices of the alloy are holding ground despite widespread business disruptions caused by the Iran war, which could lead to additional steel imports flowing into India, weighing on domestic prices. India’s own steel exports to the Gulf are also likely to be hit, although this could be offset by robust local demand. The UAE accounted for around 8% of India’s total exports of steel between April 2025 to January 2026. Live Events “We maintain our stance that steel is India’s story, and global factors, especially China, should have a limited impact on the earnings potential of major steel players,” said Jashandeep Singh Chadha, analyst at Nomura Financial Advisory and Securities (India). “Our bullish stance on the India steel sector is underpinned by improving domestic price momentum despite global headwinds.” Shares of steel majors JSW Steel, Tata Steel, Jindal Steel, and Steel Authority of India have risen 8-18% in the last three-month period, outperforming a nearly 9% decline in the benchmark Nifty 50. The three-year safeguard duty on steel was implemented last December. Robust steel prices in India are also backed by robust underlying demand, with production of crude steel up more than 11% on-year to 153.61 million tonnes (MT) between April and February, while consumption rose by 7.2% to 147.7 MT in the same period. India is the world’s second largest producer and consumer of steel after China. It its latest demand outlook, the World Steel Association estimated steel demand in India at around 9% each in 2025 and 2026, driven by continued growth across sectors. Also Read: Tata Steel shares in focus as firm set to merge Neelachal Ispat Nigam, invest up to $2 billion in Singapore arm Domestic companies having a strong market presence, higher raw material integration, low leverage and greater exposure to the domestic market are strongly placed, Antique Stock Broking said in a recent report, picking Tata Steel as its preferred pick. The Carbon Border Adjustment Mechanism (CABM) implemented in Europe earlier this year should support prices in the region, the brokerage said, which will help Tata Steel’s operations there. Steel prices in Europe have surged 6% sequentially in March and are 24% higher from the previous year. Missiles to meals: Iran war pushes world towards food crisis, inflation to hit hardThe escalating conflict in West Asia is no longer just a geopolitical crisis—it is rapidly turning into a global economic and food security challenge. Attacks on key energy infrastructure and disruptions in LNG supplies are impacting fertilizer production worldwide, especially urea, which is critical for agriculture. This, in turn, risks reducing crop yields and increasing food prices. Experts warn that what began as an energy shock is now evolving into a food and inflation crisis. The country’s most definitive MSME stage returns on March 24 in New Delhi. Register now for the ET MSME Awards 2025 .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)
ArcelorMittal Nippon Steel India is launching its largest greenfield steel project in Andhra Pradesh, investing Rs 70,000 crore in the first phase. The integrated steel plant near Visakhapatnam will have an 8.2 million tonnes per annum capacity, with initial operations expected by late 2028 or early 2029. View More
ArcelorMittal Nippon Steel India will commence work next week on its proposed integrated steel plant in Andhra Pradesh, marking the launch of India's largest greenfield steel project . The company, a joint venture between ArcelorMittal and Nippon Steel, will invest about Rs 70,000 crore in the first phase to build 8.2 million tonnes per annum capacity near Visakhapatnam. The Andhra Pradesh government has allotted around 2,200 acres for the project and facilitated faster approvals and infrastructure support. AM/NS India CEO Dilip Oommen said the project reflects strong state-industry coordination and will help the company expand beyond its western India base to better serve eastern and southern markets. He added that the plant will include upstream and downstream facilities, supporting ancillary industries and strengthening the manufacturing value chain. Live Events The company had applied for land in August 2024 and secured allotment within about two-and-a-half months. Phase I will focus on flat steel and downstream products aimed at import substitution. Initial units are expected to be operational by end-2028 or early-2029, with near-full commissioning targeted by 2030. As part of the project, the company will lay about 267 km of slurry pipelines under an agreement with NMDC Ltd for iron ore transport. The project is also expected to generate employment and support rehabilitation of affected families. The Andhra project is part of AM/NS India's broader expansion plans, including capacity addition at its Hazira facility in Gujarat and a proposed integrated steel plant in Odisha. The country’s most definitive MSME stage returns on March 24 in New Delhi. Register now for the ET MSME Awards 2025 .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)
JV of ArcelorMittal and Nippon Steel to invest ?70,000 cr to add 8.2 mt capacity in phase one View More
New Delhi | Mumbai: AM/NS India , a joint venture of ArcelorMittal and Japan's Nippon Steel , will formally begin work on the country's largest greenfield steel plant on March 23 in Andhra Pradesh, expanding its manufacturing footprint to the southeastern coast. The company will invest about ₹70,000 crore to add 8.2 million tonnes of capacity in the first phase. The state government has allotted 2,200 acres for the project near Visakhapatnam port. Also Read: Adani Group-CIDCO JV premium airport partner for upcoming Airport 360 Expo AM/NS finalised the land deal in September 2024, and the timeline from proposal to commencement reflects "world-class execution," AM/NS India CEO Dilip Oommen told ET. "Our presence so far has been in western India, and we also wanted to cater to markets in the east and south," he said. Live Events Calling the process efficient, Oommen said the company submitted its land request on August 30, 2024, and received allotment on November 26-within two-and-a-half months. ET had first reported on November 3, 2024 that AM/NS was planning the Andhra Pradesh investment. "We have a host of downstream lines that will come up along with the upstream capacity," Oommen said. "All projects will start in close proximity, and the first units will be operational by end-2028 or early 2029." Also Read: Dixon gets govt nod for JV with China’s HKC Overseas Most of the project is expected to be completed or near completion by end-2030. The first phase will focus on flat steel products and downstream lines aimed at substituting imports. Proposed expansions AM/NS India currently has a capacity of 9 million tonnes at its Hazira plant in Gujarat, which is being expanded to 15 million tonnes. It also plans to set up an integrated steel plant in Odisha. For the Andhra Pradesh project, the state government has worked closely with the company to resolve initial challenges. AM/NS had sought permission to lay two additional pipelines to transport iron ore from the Bailadila mines through Chhattisgarh, Odisha and Andhra Pradesh. This had faced objections from NMDC, which already supplies ore via a 267-km slurry pipeline to AM/NS's pellet plant in Vizag. Andhra Pradesh industries and commerce secretary N. Yuvaraj said the chief minister intervened to facilitate a resolution between the companies. "AM/NS and NMDC have reached an understanding," he said, adding that the decision improves project viability. The company will lay two new pipelines along the existing route up to Narsipatnam, after which they will branch off towards the new plant. Around 75 km of new pipeline will be constructed. About 673 families have been affected by the project and are being rehabilitated. Yuvaraj said the state has gone beyond legal requirements by providing rental support during construction of new homes, along with subsidised steel and cement. Oommen described the rehabilitation process as "seamless." .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)
`Well-oiled’ AP government is one of the reasons behind locating the Greenfiled plant in the State View More
Tata Steel is merging domestic units, such as NINL, to secure raw materials and boost efficiency within its profitable Indian core. Simultaneously, it is injecting $2 billion into its international arm to fund debt and a green transition in Europe. View More
The mainboard IPO was open for public subscription from Monday, March 9 to Wednesday, March 11. Rajputana Stainless IPO was subscribed 1.12 times during the bidding period, garnering bids worth ?285.72 crore from nearly 23,000 applications. View More