Latest Sectors News
Iron ore has been added to the core sector industries list, expanding it to nine. The government will release a revised Index of Core Industries series on July 20. This new series will feature a base year of 2022-23, replacing the older 2011-12 base. Raw coal remains, but coal middlings and washed coal are excluded to prevent double counting. View More
New Delhi: The government on Friday included iron ore in the list of core sector infrastructure industries to help capture the performance of the economy in a better way. Consequently, the number of core industries has increased to nine from eight, the commerce and industry ministry said in a statement. The government will release a revised series of the Index of Core Industries (ICI) with a new base year of 2022-23 on July 20. The revised series will replace the existing 2011-12 base year series. "In view of the extensive use of iron ore in industrial production and its significant contribution to industrial development, iron ore has been included as a core industry in the revised ICI series," it said. In the coal sector , only raw coal has been retained in the revised ICI series. Coal middlings and washed coal have been excluded to eliminate double counting, as both are derived from raw coal. To ensure consistency with the IIP, the revised ICI series uses gross production data for compiling the Steel Index, replacing the net production data used in the ICI (2011-12) series, the statement said. Live Events Alongside the provisional reading for June 2026, the government will also publish a back series for 38 months from April 2023 to May 2026. The weights for the ICI (2022-23) series have been derived from the weights of the Index of Industrial Production (IIP) 2022-23 series released by the ministry of statistics and programme implementation. The weights of the ICI basket items, drawn from the IIP, have been redistributed on a pro-rata basis to total 100 for finalising the weights of the ICI item basket. India has already revised its Consumer Price index , Wholesale Price Index, Gross Domestic Product, and Index of Industrial Production data besides releasing a producer price index on a trial basis and an index of services production. .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;width: 100%;box-sizing: border-box} .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)
The Sajjan Jindal-led company reported a consolidated net profit of ?4,651 crore for the first quarter of FY27, up from ?2,184 crore a year earlier, according to an exchange filing on Friday. The profit exceeded the ?3,199-crore average estimate of seven analysts polled by Bloomberg. View More
Iron ore has been added to the core sector infrastructure industries list. This inclusion increases the total number of key sectors from eight to nine. The new series, with base year 2022-23, will be released on July 20. Gross production data will now compile the steel index for consistency. Raw coal is retained in the coal sector, excluding derived products. View More
New Delhi: The government on Friday said it has included iron ore in the list of core sector infrastructure industries , a move which will help in capturing the performance of the economy in a better way. Consequently, the number of core industries has increased from eight to nine. Currently, the government evaluates the performance of eight key sectors - crude oil, petroleum refinery, cement, electricity, natural gas, fertiliser, finished steel and coal - on a monthly basis. "In view of the extensive use of iron ore in industrial production and its significant contribution to industrial development, Iron Ore has been included as a core industry in the revised ICI series," the Commerce and Industry Ministry said in a statement. The new series with base year 2022-23, containing data for nine key sectors, will be released on July 20 this year. Live Events The revised series will replace the existing Index of Core Industries (ICI) series with the base year 2011-12. The ministry also said that to ensure consistency with the IIP (Index of Industrial Production), the revised ICI series uses gross production data for compiling the Steel Index, replacing the net production data used in the ICI (2011-12) series. In the coal sector also, only Raw Coal has been retained in the revised series. Coal Middlings and Washed Coal have been excluded to eliminate double counting, as both are derived from Raw Coal, it added. In 2011, the government included two sectors: natural gas and fertiliser. Production growth of eight core infrastructure sectors slowed to a seven-month low of 0.5 per cent in May due to a fall in output of coal, crude oil and refinery products. .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;width: 100%;box-sizing: border-box} .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)
Industry flags inadequate duty-free quotas in six categories where India has strong export volumes, urging a review View More
Board approves participation as promoter selling shareholder; Q1 net profit at ?4,696 crore View More
JSW Steel will sell shares as promoter shareholder in the proposed listing of its B2B commerce platform, which crossed the $1 billion valuation mark last year. View More
Crisil Ratings has upgraded Vedanta group companies' long-term ratings to AA+ and assigned a stable outlook. This upgrade reflects the strong financial profile and improved financial flexibility of the demerged entities. Vedanta Ltd anchors the group with market leadership and a significant stake in Hindustan Zinc. Leverage is expected to remain comfortably below 1.0x over the medium term. The group's diversified metals portfolio strengthens its overall operating profile. View More
New Delhi: Crisil Ratings has upgraded the long-term ratings of Vedanta group companies to AA+ while assigning a 'stable' outlook. "Crisil Ratings has upgraded the long-term ratings of Vedanta Ltd (VEDL), Vedanta Aluminium Metal Ltd (VAML), and Vedanta Oil & Gas to AA+/stable, removing all three from 'Rating Watch with Developing Implications'," Vedanta Group said in a statement. Instruments with this rating are considered to have a high degree of safety regarding timely servicing of financial obligations and carry very low credit risk. Also Read: China's rare earth curbs put $6.5 trillion of global output at risk Vedanta Ltd anchors the group with unmatched scale and market leadership in India, underpinned by its 61 per cent stake in Hindustan Zinc , a leading producer of zinc, lead, silver. It also has a strong presence across copper, nickel and ferroalloys, along with 10 critical mineral and strategic mineral blocks. Live Events On leverage, Crisil stated, "The company's financial profile remains strong, with net leverage improving significantly to 0.7x as of 31 March 2026 under the demerged structure. Despite planned growth capital expenditure, leverage is expected to remain comfortably below 1.0x over the medium term." Also Read: Supply chain reset puts emerging markets at the heart of critical minerals value chain: Report The lower leverage, together with sustained earnings and cash flow generation from Hindustan Zinc , has strengthened the company's financial profile and enhanced its financial flexibility , supported by the substantial market value of its investment, according to the statement. "Vedanta Group has a diversified metals portfolio spanning zinc, silver, lead, aluminium, copper and nickel. The large scale of operations with a healthy market share in the domestic aluminium and zinc businesses and the cost-efficient operations in these segments strengthen the Group's operating profile," the rating agency said. On the parent company Vedanta Resources, Crisil said, "The Group's financial flexibility has improved significantly post demerger with the substantial market value of Vedanta Resource's shareholdings in the demerged entities translating into a market value cover of 5.6 times against its net debt as on June 30, 2026." .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;width: 100%;box-sizing: border-box} .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)
JSW Steel reported a Q1 FY27 net profit of ?4,696 crore, more than double last year’s ?2,209 crore, driven by a 9.8% revenue increase to ?47,364 crore. The company began construction on a new 2-million-tonne steel plant in Andhra Pradesh as part of its expansion. View More