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Tata Steel meets 100% of its iron ore requirements in India through six legacy mines allotted before the Mines and Minerals (Development and Regulation) Amendment Act, 2015. View More
Tata Steel expects domestic steel prices to rise this quarter, while its CFO highlights margin protection amidst a challenging year. The EU's carbon border tax is seen as a positive for Tata Steel's European operations, leveling the playing field for carbon costs. View More
European steel prices are expected to increase significantly in the coming years. New carbon emission regulations and tariffs are driving this structural shift. Tata Steel sees improved profitability in its Netherlands operations due to these changes. The company anticipates positive developments for the UK steel industry soon. Tata Steel's Indian operations continue to grow robustly. View More
Mumbai: Steel prices in Europe are set to move structurally higher in the next few years because of carbon emission-related pricing and quota-based tariffs, Tata Steel chief financial officer Koushik Chatterjee said. "What we are seeing in the EU (European Union) is a long phase of prices settling down at a much higher level," he told ET. While the EU implemented the Carbon Border Adjustment Mechanism (CBAM) at the start of the year, the Tariff Rate Quota will come into effect later this year. Both moves are aimed at protecting Europe's steel industry from cheaper imports. Tata Steel is one of the largest producers of steel in Europe with operations in the Netherlands and the UK. While the company continued to bleed cash in its UK operations in the December quarter, in the Netherlands, it saw a sharp improvement in profitability. "We have had stability in volumes, and the cost take-outs and markets are starting to look up because of CBAM kicking in," chief executive officer TV Narendran said. "In the Netherlands, we will be back to being debt-free, cash-flow surplus and self-sufficient. The UK is where the challenge is because the policy actions we expected have not yet come in." Live Events Given that the UK government itself is invested in the industry, announcements that will give a fillip to the industry are expected "sooner than later", he said. Tata Steel's entry into the European steel market came with its buyout of Corus in 2007. While these operations have been a drag on the consolidated entity for several years now, the management believes it has not come in the way of growth in India. "When Tata Steel acquired Corus, Tata Steel in India was 4 million tonnes, which is today 25 million. And in Europe the part losing money, the UK, was 10 million tonnes, which is today 3 million. So, the cash generating part of the business is today five times the size it was when we acquired Corus, and the part of the business which was losing cash, which was 40%, is now 10%," Narendran said. Tata Steel, the second-largest producer of steel in India, has a target to expand capacity to 40 million tonnes by the end of this decade. In the last few years, the company has grown both organically and inorganically, with expansion at its plant in Kalinganagar and key buyouts including of Bhushan Steel, Usha Martin and Neelachal Ispat Nigam. "We have not denied capital to India. Our balance sheet would have looked better if the UK were not bleeding so much, but it is not that we have turned down any growth proposal in India to support the UK," Narendran said. .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)
India is set to significantly boost its specialty steel production. The government has secured Rs 11,887 crore in investment commitments for the PLI 1.2 scheme. This initiative will add 8.7 million tonnes of specialty steel capacity by FY 2031. View More
The centre has received investment commitments of Rs 11,887 crore under the speciality steel production linked incentive (PLI) 1.2 scheme. An official statement said 85 agreements were signed with 55 companies Monday. These projects are expected to add 8.7 million tonnes of specialty steel capacity by FY 2031. These will ramp up India’s capabilities in high-end steel segments such as electrical steel, alloy and stainless steels, coated products, and grades required for strategic sectors. “PLI 1.2 seeks to address structural gap by incentivising domestic production, conserving foreign exchange, and positioning India as a reliable global supplier of advanced steel,” Union Steel and Heavy Industries Minister H D Kumaraswamy said, noting the achievements under earlier rounds of the PLI Scheme reinforce the policy’s effectiveness. Officials said ArcelorMittal Nippon Steel, Jindal Stainless , Ratnamani Metals and Tubes , and Steel Authority of India Limited ( SAIL ), are among those who signed agreements under PLI 1.2. This third round of the PLI Scheme caters to the need for sustained capacity expansion in specialty steel, which is essential for sectors including automobiles, railways, defence, electrical equipment, and aerospace, the statement said. Incentive rates range from 4% to 15% over a five-year period, the scheme is designed to promote investment, technology upgradation, and value addition while integrating Indian manufacturers into global value chains. Live Events According to official estimates, committed investments of Rs 43,874 crore have translated into “substantial on-ground progress,” across PLI 1.0 and 1.1. Also speaking at the event, Steel Secretary Sandeep Poundrik said European Union’s (EU’s) Carbon Border Adjustment Mechanism (CBAM) - which penalises steel manufactured through high emission processes - remains a challenge but the centre is committed to supporting Indian exporters. Poundrik said India’s installed steel capacity is currently 218 million tonnes per annum (mtpa), rising by 18 mtpa in the current fiscal itself. He also noted the country will comfortably achieve the target of having 300 mtpa installed steel manufacturing capacity in 2031, and maybe 400 mtpa by 2035-36. .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 exports face ongoing challenges from the European Union's carbon tax and import quotas. The Indian government plans to support the affected steel sector. This situation follows a recent trade deal that left the EU's carbon border mechanism unchanged. Indian steel mills, heavily reliant on Europe, are exploring new markets in Africa and the Middle East. View More
India's steel exports will continue to be impacted by the European Union's carbon tax and import quotas, and the government will take steps to help the sector, the federal steel secretary said on Monday. The comments come days after India and the European Union signed a trade deal, which slashed tariffs on several sectors but left the bloc's carbon border tariff, called Carbon Border Adjustment Mechanism , intact. Indian steel mills ship roughly two thirds of their total exports to Europe. "With European Union's CBAM and tariffs, quotas and other challenges, exports will remain a problem and we will have to take action," said Steel Secretary Sandeep Poundrik at a government event in New Delhi. India has sharply criticised the world-first CBAM policy since it was announced by the EU in 2021, saying the levy could hamper trade in steel. Since January, the regulatory framework brought in by the EU has led to fees on imports of steel, cement and other goods whose production results in high levels of carbon emissions . India's steel exports to Europe are expected to fall as a consequence, prompting mills to seek alternative buyers in Africa and the Middle East, Reuters reported. Live Events .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)
Higher domestic steel prices following safeguard duty are set to lift March-quarter realizations, while regulatory and trade curbs in Europe could support pricing in the second half of the year. View More
Tata Steel's Q3FY26 profit soared multifold to Rs 2,730 crore, driven by a 14% surge in domestic delivery volumes, marking a first with over six million tonnes. Despite weak steel prices, increased capacity utilization boosted revenue by 6% to Rs 57,002 crore. Recent import tariffs are expected to further support domestic producers. View More
IMFA expects annual output to grow from about 260,000 tonnes from existing facilities to around 400,000 tonnes in FY27. View More
New Delhi: Indian Metals & Ferro Alloys Ltd (IMFA) expects gains from its newly acquired plant in Kalinganagar, Odisha, in the first quarter of fiscal 2026-27. Company Managing Director Subhrakant Panda said definitive agreements for acquiring Tata Steel's ferro chrome plant were signed in November 2025. Tata Steel's ferro chrome plant was acquired by IMFA for ₹610 crore. "We are on track to take control of the unit in the ongoing fourth quarter, in fact, probably in February itself," he told ET, adding impact of this acquisition will reflect from Q1 of FY27 onwards. IMFA expects annual output to grow from about 260,000 tonnes from existing facilities to around 400,000 tonnes in FY27. "In FY28, we expect that number to be between 475,000 to 500,000 tonnes," Panda said. To to a query on possible gains from the India-European Union (EU) Free Trade Agreement (FTA), he said, "We don't have a large exposure at the moment, only small quantities are exported. But with the expansion in our capacity, we will certainly look to diversify markets." Panda said IMFA exports nearly 95% of its total ferro chrome output but this ratio is expected to change with more focus on the domestic market. "By FY28, we expect to be 60:40, still a little bit more favoured towards exports, but significant tonnage allocation to the domestic market," he said. Live Events Panda expects IMFA's ethanol project, a diversification from its core business, to commission that in March 2026. "Once it is operational for the full year FY27, we are expecting it to contribute about ₹250 crore to the top line, he said. The company reported 702.83 crore revenue for Q3FY26, up from ₹643.22 crore in the same months a year ago. Net profit for the quarter ending December 2025 stood at ₹130.67 crore, up from ₹93.14 crore last fiscal. .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)
Sebi has approved eight IPOs across financial services, infrastructure, engineering, education and manufacturing, signalling steady primary market momentum. InCred Holdings leads the pipeline, alongside offerings from engineering, IT, metals, education, jewellery and electronics firms cleared for listing in coming months. View More
Capital markets regulator Sebi has approved eight initial public offerings, clearing a fresh pipeline of offers across financial services, infrastructure, engineering, education and manufacturing, as the primary market continues to see steady regulatory traction. Among the approvals, InCred Holdings stands out as the most prominent. InCred Holdings is the 100% holding company of InCred Financial Services, one of India’s fastest-growing new-age NBFCs. InCred Group has built a diversified lending franchise spanning personal loans, student loans, specialised MSME loans, secured business loans and lending to financial institutions. Since inception, the platform has disbursed loans worth over Rs 25,000 crore to more than 4 lakh customers through a network of over 140 branches and a workforce of more than 2,600 employees. As of FY25, InCred Finance reported assets under management of Rs 12,585 crore, reflecting 39% year-on-year growth, supported by technology-led underwriting and disciplined risk management. Engineering consultancy firm Aarvee Engineering Consultants has also received approval for its IPO, which will comprise a fresh issue of Rs 202.5 crore along with an offer for sale of up to 67.5 lakh equity shares by promoter Venkatachala Chakrapani Redla. The company provides infrastructure engineering and project management services across transportation, water and urban development segments. IT infrastructure and system integrator ArMee Infotech has secured Sebi’s nod for a pure fresh issue of Rs 300 crore. Headquartered in Ahmedabad, the company operates across 14 locations and serves government, BFSI, corporate and education clients, with offerings ranging from IT hardware and software deployment to managed services and digital infrastructure projects. Live Events Kolkata-based cable and conductor manufacturer Laser Power and Infra has been cleared to raise Rs 1,200 crore through its IPO. The company is targeting a valuation in the range of Rs 5,500 crore to Rs 6,500 crore, with the issue aimed at strengthening its balance sheet and supporting expansion plans. Education infrastructure platform Elevate Campuses has received approval for its Rs 2,550 crore IPO, which will be entirely a fresh issue. The company focuses on developing and operating student housing and campus infrastructure and plans to list on both NSE and BSE. Jewellery retailer Shankesh Jewellers was cleared for a small-sized IPO comprising a fresh issue of up to Rs 3 crore and an offer for sale of up to Rs 1 crore, with shares proposed to be listed on NSE and BSE. Metals recycling and recovery player Ardee Industries secured approval for an IPO that includes a fresh issue of up to Rs 320 crore and an offer for sale of up to 3.77 crore shares. Founded in 1995, the company operates across lead recycling, smelting and refining. Auto and industrial electronics firm SEDEMAC Mechatronics has also been cleared for a pure offer-for-sale IPO of up to 0.8 crore shares, with no fresh capital raising involved. .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 ETMarkets WhatsApp channel) (You can now subscribe to our ETMarkets WhatsApp channel)