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The Supreme Court is poised to rule on a broad swath of President Donald Trump's tariff agenda. The decision carries big implications for household finances. View More

The Supreme Court in Washington, Jan. 27, 2026.Al Drago | Bloomberg | Getty Images The Supreme Court may decide the fate of President Donald Trump's tariff agenda as soon as Friday — and the ruling has implications for consumers' wallets, according to economists. If the high court were to rule that certain tariffs are unconstitutional, it could yield financial relief for consumers, who have at least partly borne the cost of those import taxes via higher prices, economists said.The tariffs in question are those levied under the International Emergency Economic Powers Act of 1977.The Trump administration used the IEEPA as a legal pathway to impose tariffs on a broad swath of trading partners and raise the tariff rate on imports to their highest level since the early 20th century. No president had previously used the law to impose tariffs. The cost of tariffs to consumers — and potential savings Tariffs are a tax on imports. Those taxes are largely paid by the U.S. entity that imports the item, not foreign exporters, economists said.The U.S. currently has an average effective tariff rate of 16.9%, the highest since 1932, according to John Ricco, associate director of policy analysis at the Yale University Budget Lab.A paper published last week by researchers at the Federal Reserve Bank of New York said that U.S. firms and consumers bore "the bulk" — roughly 90% — of the economic burden of tariffs imposed in 2025. White House officials disputed that finding. watch nowVIDEO6:2406:24Tariff study fallout: Are Americans footing the bill?Squawk Box Businesses generally pass on at least some of their costs to consumers, according to economists and various economic analyses. Tariffs have made everything from furniture to clothing, food, electronics and cars more expensive, according to the Yale Budget Lab.The Tax Foundation found that Trump's tariffs cost each U.S. household $1,000 in 2025, and will cost each household $1,300 in 2026.The Yale Budget Lab reached a similar conclusion: Based on the current tariff rate, the average consumer will pay an additional $1,300 to $1,700 in 2026, compared to what they would have paid pre-2025, Ricco said. If the court strikes down IEEPA tariffs as unconstitutional, that burden would fall by about half in 2026, to about $600 to $800, Ricco said.A majority of Supreme Court justices appeared skeptical about the legality of IEEPA tariffs during oral arguments in November. Read more CNBC personal finance coverageWhat a Supreme Court tariff ruling may mean for your moneyTrump officials warn hundreds of colleges with low student loan repayment ratesAs AI puts the squeeze on entry-level jobs, teens remain optimistic: reportTrump administration finds more borrowers eligible for student loan forgivenessMore used cars are for sale, but ones under $20,000 are 'harder to find': ExpertHow to claim Trump's 'no tax on overtime' deduction this seasonParents with student debt face deadline to secure affordable repayment, forgivenessSecure 2.0 let employers pair emergency savings and 401(k)s, but few have done soHome sellers start getting lower prices at 70, research shows — here's whyAverage IRS tax refund is up 10.9% so far this season, early filing data showsEarly estimates point to lower Social Security COLA for 2027Senators call for longer Social Security Fairness Act lump-sum payment timelineHere's the inflation breakdown for January 2026 — in one chartAverage tax refund is up 22%, Bessent says — what filers can expect this seasonK-shaped economy looks like 'jaws of a crocodile,' economist says: Here's whyHow EPA 'endangerment finding' repeal could impact your walletMedical emergencies can lead to debt and bankruptcy — even for insured AmericansCNBC's Financial Advisor 100: Best financial advisors, top firms ranked Without those tariffs, the effective tariff rate would drop to about 9%, which is still much higher than the roughly 2% rate before Trump started his second term in office, Ricco said.The consumer burden doesn't fall to zero because the Trump administration has other tariffs on the books that rely on different authorities — and ones that stand on firmer legal ground, economists said. The Trump administration has said it will use those pathways to impose new tariffs — and get to the "same place" — should the Supreme Court strike down IEEPA tariffs. "Even if we assume IEEPA is ruled to be used unconstitutionally, it won't change a lot," said Gary Hufbauer, a nonresident senior fellow at the Peterson Institute for International Economics and a former Treasury Department official focused on international trade. "The president will come in and use other statutes for virtually the same tariffs."The Tax Policy Center estimates that if the Supreme Court rules against IEEPA tariffs — and they aren't replaced — taxes on households would fall by $1.4 trillion over 10 years, saving families an average of $1,200 in 2026. How Trump has used IEEPA tariffs Trump has invoked emergency powers under IEEPA to impose a broad swath of his tariff regime. U.S. Customs and Border Protection collected about $133.5 billion of tariff revenue under IEEPA in fiscal year 2025 and in fiscal year 2026 through Dec. 14, according to a Cato Institute analysis of federal data. That's about 60% of total tariff revenue collected during that time. Trump used IEEPA to impose a 10% baseline tariff on all U.S. trading partners on so-called liberation day in April 2025, and he put even higher "reciprocal" tariffs on dozens of nations to narrow the trade deficit. Since Inauguration Day, he has also invoked IEEPA to put tariffs on Canada, China and Mexico — the U.S.'s largest trading partners — for allegedly failing to prevent fentanyl trafficking. Since the start of his second term, he also invoked the law to suspend the "de minimis" rule, which exempted imports under $800 from tariffs, and to put levies on countries like India for importing Russian oil and on Brazil for the prosecution of former President Jair Bolsonaro, according to a Congressional Research Service analysis in January. Other Trump tariffs on the books However, there are several other laws the Trump administration has relied on to impose tariffs — and can leverage more forcefully if the Supreme Court strikes down IEEPA tariffs, said Hufbauer of the Peterson Institute.That would "take away some of the relief" for consumers, he said.One of the "easiest" existing authorities is Section 232 of the Trade Expansion Act of 1962, Hufbauer said. watch nowVIDEO2:5202:52How tariffs are pushing America's furniture industry to the brinkCNBC Digital Original Video Indeed, Trump has already used Section 232 to implement tariffs on a range of items, such as steel, aluminum, automobiles and auto parts, copper, trucks and wood products. "We believe the White House could recreate a number of the existing tariffs using numerous other statutes ... within days should IEEPA be struck down," according to a January research note by Chris Krueger, a strategist in TD Cowen's Washington Research Group. Business and consumer refunds? It's unclear to what extent businesses and consumers might receive refunds after a Supreme Court ruling. Mark Zandi, chief economist at Moody's, said he thinks the odds "are better than even" that impacted businesses would get some form of compensation from the federal government if the Supreme Court strikes down the IEEPA tariffs. "If the Supreme Court is silent on this issue and the Administration doesn't provide compensation, there will likely be significant legal actions by businesses, that the Court will ultimately need to adjudicate on," he wrote in an e-mail.Trump had also floated the idea of sending Americans $2,000 tariff "dividend" checks from the generated revenue.However, it's unlikely the government would send checks to consumers regardless of the Supreme Court outcome, except perhaps in the event of a near-term recession, Zandi said. "This would require legislation, and I don't see Congress passing it, even under reconciliation," Zandi said.

James Cameron, award-winning director of "Avatar" and "Titanic," calls Netflix's proposed acquisition of WBD assets "disastrous" for the theater business. View More

In this articleWBDNFLXFollow your favorite stocksCREATE FREE ACCOUNT Canadian filmmaker James Cameron poses during a photocall for the opening of the exhibition entitled 'The Art of James Cameron' at the Cinematheque Francaise in Paris on April 3, 2024.Stephane De Sakutin | AFP | Getty Images Legendary "Titanic" director James Cameron is likening the theatrical experience to a "sinking ship" if Netflix acquires Warner Bros. Discovery's film studio. Cameron penned a letter last week to Sen. Mike Lee, R-Utah, that was obtained by CNBC, in which he argues Netflix's proposed acquisition of WBD's studio and streaming assets could lead to massive job losses in Hollywood, fundamentally alter the theatrical landscape in the U.S. and negatively affect one of America's largest export sectors.Lee chairs the Senate subcommittee on antitrust, competitive policy and consumer rights, which held a hearing on Feb. 3 to discuss the potential impact of the Netflix-Warner Bros. transaction. Cameron sent his letter after the hearing, during which Netflix co-CEO Ted Sarandos and WBD executive Bruce Campbell testified. "I believe strongly that the proposed sale of Warner Brothers Discovery to Netflix will be disastrous for the theatrical motion picture business that I have dedicated my life's work to," Cameron wrote to Lee. "Of course, my films all play in the downstream video markets as well, but my first love is the cinema."Cameron has been vocal in his opposition to the proposed tie-up, and his concerns echo those of the broader filmmaking industry, which generally sees combinations of movie studios resulting in fewer releases and less work. Cameron's letter to Lee, which has not been previously reported, escalates his concerns to the lawmakers who could potentially stand in the way of Netflix completing its acquisition. "We have received outreach from actors, directors, and other interested parties about the proposed Netflix and Warner Brothers merger, and I share many of their concerns," Lee said in a statement. "I look forward to holding a follow-up hearing to further address these issues."In response to a request for comment, a Netflix representative pointed to Netflix's written testimony and Sarandos' comments during the hearing. In its written testimony, Netflix outlined its investments in the film and TV production industry and its impact on the overall U.S. economy, including $20 billion in planned film and TV spend in 2026, a majority of which it said will be spent in America. "With this deal, we're going to increase, not reduce, production investments going forward, supported by a stronger combined business and balance sheet," Netflix said, noting its production facilities, such as one in New Mexico and an upcoming New Jersey-based studio. Since the deal's announcement, Netflix's top brass have consistently voiced their belief that the deal would not only win regulatory approval but would be good for the media industry.During a recent earnings call, Sarandos called the deal "pro-consumer ... pro-innovation, pro-worker."He has said on multiple occasions that the addition of WBD's studio would preserve jobs — even as layoffs roil the media ecosystem — and has said the assets would bring new businesses under Netflix's umbrella."We're going to need those teams, these folks that have extensive experience and expertise. We want them to stay on and run those business," Sarandos said. "So we're expanding content creation, not collapsing it in this transaction." In addition to concerns specific to filmmakers and across the theater industry, the proposed Netflix-WBD transaction has awakened other regulatory questions. In particular, critics have raised alarm about bringing together two of the top global streaming services — Netflix with 325 million global subscribers and WBD's HBO Max with 128 million as of Sept. 30. Lawmakers have already questioned how a merger of those services would affect consumers and prices.Paramount Skydance has leveraged some of the same arguments in its attempt to unseat Netflix and buy the entirety of WBD through a hostile tender offer. Sarandos and co-CEO Greg Peters have argued that competition for viewers includes various platforms — from traditional TV to streaming services to social media platforms such as YouTube — making Netflix a small part of the ecosystem. watch nowVIDEO2:4002:40Netflix co-CEO Ted Sarandos: Government has no grounds to block Netflix-Warner Bros. dealClosing Bell: Overtime Theatrical shifts Cameron, who has pioneered the creation of new filming technologies during his decadeslong career, including 3D production systems, advanced visual effects and high-frame-rate display, noted that theatrical exhibition has been a critical part of his "creative vision."He also highlighted previous comments by Sarandos calling movie theaters "an outdated concept" and an "outmoded idea," in addition to comments telling investors that "driving folks to a theater is just not our business.""The business model of Netflix is directly at odds with the theatrical film production and exhibition business, which employs hundreds of thousands of Americans," Cameron wrote. "It is therefore directly at odds with the business model of the Warner Brothers movie division, one of the few remaining major movie studios."Cameron noted that WBD releases around 15 theatrical films a year, volume that movie theater operators rely on at a time when production has shrunk and consumer habits have shifted.He also suggested that the merger would "remove consumer choice by reducing the number of feature motion pictures that are made" as well as "restrict the choices of film-makers looking for studios to invest in their projects, which will in turn reduce jobs."Cameron touched on recent trade policy shifts by the Trump administration that have sought to protect U.S. exports. President Donald Trump has more than once floated the idea of tariffs to protect Hollywood. "The US may no longer lead in auto or steel manufacturing, but it is still the world leader in movies," Cameron said. Under a Netflix-WBD merger, "That will change for the worse."Cameron also questioned whether Netflix would honor verbal commitments its executives have made around future theatrical releases, including how long they would play in theaters and how many theaters they would play in. In its written testimony from earlier this month, Netflix said it plans to put Warner Bros. films in theaters with 45-day windows and would continue to employ these employees, since "we don't have those kinds of workers at Netflix today." "We are not acquiring these amazing assets to shut them down, but to build them up," according to the testimony.Still, Cameron questioned whether those commitments would hold. "Their pledge to support theatrical releases (a business fundamentally at odds with their core business model) is likely to evaporate in a few years," he said. "Once they own a major movie studio, that is irrevocable," he added. "That ship has sailed (as I like to say, mindful that I directed 'Titanic.' I am very familiar not only with ships that sail, but also those that sink. And the theatrical experience of movies could become a sinking ship.)"

Motilal Oswal View More

The Supreme Court has decided not to interfere with the Karnataka government's decision to confiscate JSW Steel's performance securities valued at Rs 128 crore. This decision comes from allegations that the company failed to achieve specified iron ore production benchmarks. View More

New Delhi: The Supreme Court Wednesday refused to stay the Karnataka government’s direction to banks to forfeit JSW Steel ’s Rs 128 crore performance securities. The state’s mines and geology director had issued the direction to banks citing the company’s failure to meet minimum production requirement of iron ore from a mine in Chitradurga district. JSW Steel approached the top court after it did not get a favourable order Monday from the Karnataka High Court. The company through senior counsel AM Singhvi told an SC bench led by Chief Justice Surya Kant that the state mining department issued the order without affording it any opportunity of hearing or even without a notice to show cause as to why the action should not be taken. "It, therefore, constitutes a classic case of violation of fundamental principles of natural justice and is violative of Article 14 as per the law settled by the SC," the appeal stated. Singhvi argued that the demand was made after more than four years for 2020-22, ignoring several representations by the company in which it had pointed out that circumstances caused by the authorities themselves had disabled it from achieving the production requirement. JSW Steel said in its representations it had requested the authorities to remove the impediments and, in the meanwhile, to relax the mandate of minimum production and despatch requirement. Live Events According to the company, it could not take up production during 2020-22 for reasons beyond its control, including the Covid-19 pandemic and the grade and quality of ore deposits being significantly lower than depicted in the bid documentation. JSW Steel won the leasing rights for the mine in an auction in 2019. .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)

Ace investor Mukul Agrawal's 2025-26 IPO investments reveal a bold investment strategy. Several small and medium enterprise listings delivered massive returns, turning into multibaggers. However, some mainboard and SME stocks also experienced significant drops. His portfolio highlights the general trends in newly listed companies without digging deeper into the reasons of gains or declines. View More

Ace investor Mukul Agrawal’s 2025-26 IPO portfolio reflects a classic high-risk, high-reward approach. It spans both SME and mainboard listings, held either in his own name or through his investment vehicle, Sanshi Fund-I. While a clutch of SME bets have turned into multibaggers, several counters are trading sharply below their issue prices. A look at the performance dispersion shows that outsized winners have emerged largely from the SME segment, even as some mainboard names have seen deep corrections. Multibaggers under spotlight The biggest wealth creator in the portfolio is Tankup Engineers, which has rocketed 329% from its issue price of Rs 140 to Rs 589, making it a more-than-fourfold return for investors. Live Events Close behind is Sacheerome, which surged 245%, and Monolithisch India, which has rallied 217% since listing. These three counters stand out as clear multibaggers, underscoring the sharp upside potential in select SME bets. Among other strong performers, Belrise Industries has doubled investors’ money with gains of 108%, while Zelio E-Mobility has jumped 97%. Safe Enterprises Retail Fixtures has delivered a 77% return, and Jain Resource Recycling has risen 61%. Additional gainers include Shree Refrigerations (+46%), Connplex Cinemas (+36%), Unified Data-Tech Solutions (+31%), Anand Rathi Share & Stock Brokers (+28%), E to E Transportation Infrastructure (+27%), and Brandman Retail (+25%). The performance suggests that while mainboard picks delivered steady gains in select cases, the biggest alpha came from high-growth SME listings. Big laggards Not all his bets have paid off yet. The steepest decline in the portfolio is in Chatterbox Technologies, which Other notable underperformers include Gem Aromatics (-39%), Ellenbarrie Industrial Gases (-38.5%), and Laxmi India Finance (-38%). Among SME names, Methodhub Software has declined 36%, while Excelsoft Technologies is down 28%. Neochem Bio Solutions, GLEN Industries, and Curis Lifesciences have also corrected between 19% and 22%. Even relatively smaller declines, such as Systematic Industries (-14%), Amanta Healthcare (-13%), and Dhara Rail Projects (-6%) reflect the broader volatility across segments. The analysis of these 32 stocks suggests that high risks bring both higher gains and deeper cuts simultaneously, according to data from Chittorgarh.com. In the list, 18 stocks are trading above their issue price while 14 are down. Agrawal also invested in Solarium Green Energy, a stock listed on the BSE SME platform. The December shareholding data is not available on the BSE, so we cannot tell if he is still invested in it. The stock is trading 11% lower than the issue price of Rs 191. General trends Equity markets had a difficult time navigating 2025 amid tariff-related concerns, premium valuations in domestic markets, and geopolitical concerns, shifting the focus to large caps, which are conventionally considered safer than than smallcap and midcap stocks. Dr. Ravi Singh, Chief Research Officer at Master Capital Services believes the IPO market doesn’t feel confident anymore. "Earlier, almost every IPO used to list strong and keep moving up for some time. Some SME and small issues have given crazy returns after listing, but at the same time, many others have slipped below issue price once the initial excitement settled. That tells that liquidity is still there, but investors are not blindly chasing everything," he said. Decoding Agrawal's portfolio, Dr Singh said the main learning is his diversification as the portfolio is limited to just 3–4 bets. While some have given good returns, others are still struggling which is a learning for investors that just because a known investor is present doesn’t guarantee performance. "Out of the names shown, a few stand out because they are not just momentum spikes but have sector tailwinds or business visibility," he added. Stock view Dr. Singh, Chief Research Officer at Master Capital Services takes a view on some of these stocks. On Monolithisch India, he said the stock has seen sharp movement over the past year and remains volatile. Its growth depends heavily on industrial and steel demand cycles, he said, adding that the stock may consolidate in near term within price band of Rs 440-478. It is suitable only for high-risk investors, warned, recommending investors to watch its earnings consistency and order inflows. For Sudeep Pharma, strong listing momentum and healthy growth numbers have kept sentiment positive, though valuations look stretched after the rally, he opined. "The long-term story remains intact if margin expansion continues, but near-term volatility is possible. Better to accumulate on corrections near 650 level rather than chase at highs," he added. In case of Vikran Engineering, order book visibility is decent, but execution and margin stability remain key concerns, he said, adding that recent price weakness reflects cautious sentiment. "If order inflow sustains and profitability improves, recovery is possible. For now, it is prudent to ignore fresh buying and exit from existing holdings as the stocks likely remain in bearish trend for short term till trading below 100," Singh said. Meanwhile, NBFC Laxmi India Finance is in a space sensitive to funding costs and asset quality though the company shows steady loan growth, Singh said. "Sustainability of margins will decide direction. Valuation appears reasonable compared to peers. Gradual accumulation is sensible, but monitor the level of 120-125 carefully as the stock price could face supply pressure from this zone," this analyst said. From mainboard names, Jain Resource Recycling looks more fundamentally backed due to the recycling theme and circular economy focus. (Disclaimer: The recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times.) .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)

India's steel sector is gearing up for significant primary market activity. Over the next eight to ten months, at least ten steel producers and related firms plan to raise ?5,000 to ?7,000 crore through IPOs. This move is driven by improving demand and supportive government policies. Companies aim to expand capacity and enhance their financial standing. View More

Mumbai: India's steel sector is poised for a fresh burst of primary market activity, with at least 10 steel producers and steel-related companies preparing to raise ₹5,000-7,000 crore in total through initial public offerings over the next eight to 10 months. Steel Infra Solutions Company Ltd, German Green Steel & Power Ltd , Rajputana Stainless Ltd, Bombay Coated Steel Ltd, A-One Steels India Ltd, Jindal Supreme (India) Ltd, Madhur Iron & Steel Ltd, and Synergy Advanced Metals Ltd are among those who have filed draft red herring prospectuses (DRHPs), while a few others are in advanced stages of preparation, according to investment bankers. The steel industry's rush to tap the capital markets comes amid improving demand visibility and supportive policy measures. "India's steel demand is expected to grow due to infrastructure push for roads, railways, ports, recovery in the steel sector, the PLI scheme for manufacturing, and the government's continued focus on capex," said Uday Patil, executive director at PL Capital Markets. Agenciesbuilding capacity Industry rushes to tap capital mkts on better demand visibility and policy support He added that about 25-30% of steel demand is linked to government projects and that safeguard and anti-dumping duties on select imports have helped domestic producers compete on a more level-playing field. Live Events Local companies are targeting significant capacity expansions under the government's long-term steel policy, aiming to capture the next leg of growth. Mid-sized processors and specialty steel makers, particularly those in coated steel, stainless products, and specialty alloys, are seeing improved order visibility from infrastructure, renewables, railways, metro projects, auto and engineering sectors. "There is a clear capacity build-out cycle underway among mid-tier players who want to capture domestic demand growth and reduce import dependence in certain product categories," said Deep Shah, senior manager at Unistone Capital, an investment banking firm. IPO proceeds are expected to be deployed towards greenfield lines, galvanising units, colour-coating facilities and stainless capacity additions. Besides expansion, companies are also looking to strengthen financial profiles, Shah said. After a prolonged deleveraging phase over the past decade, many steel companies are using favourable equity market conditions to further clean up their balance sheets. Lower leverage can improve return ratios, reduce interest burden, enhance credit ratings, and support future borrowing at better terms. Given the working capital-intensive nature of the steel trade, a portion of the IPO proceeds is also likely to be earmarked for liquidity support to meet capacity expansions. Bankers also flagged sectorspecific risks such as volatility in steel prices, swings in coking coal costs, import competition, global demand slowdown, and currency movements affecting exports. Margin sustainability will be closely monitored, particularly if raw material costs remain elevated. Yet market participants argue that the narrative around steel is gradually evolving. “India’s steel industry is not viewed purely as a commodity story but as a structural growth play backed by consumption from infrastructure, renewables, railways and urban development.” said Amogh Giridhar, associate partner at Prequate Advisory, adding that investors are becoming comfortable underwriting cyclical businesses where there is evidence of prudent leverage and disciplined capex plans. However, bankers believe the real test in public markets would always be balance sheet quality and capital allocation discipline for a historically — volatile industry. “Those with clear integration strategies and export competitiveness, coupled with strong domestic consumption may be able to command premium valuations despite the cyclical backdrop,” said Giridhar. .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)

In a significant legal ruling, the Supreme Court has chosen not to intervene with the Karnataka government's decision to confiscate ?128 crore worth of performance securities from JSW Steel. This measure comes in light of the company's alleged shortfall in meeting iron ore production goals. View More

The Supreme Court Wednesday refused to stay the Karnataka government's direction to banks to forfeit JSW Steel 's ₹128 crore performance securities. The state's mines and geology director had issued the direction to banks citing the company's failure to meet minimum production requirement of iron ore from a mine in Chitradurga district. JSW Steel approached the court after it did not get a favourable order Monday from the Karnataka HC. The company through senior counsel AM Singhvi told court that the state mining department issued the order without affording it any opportunity of hearing. .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)

Steel Secretary Sandeep Poundrik highlighted that intelligent automation, digital twins, advanced analytics, and AI-driven systems are crucial for India's steel sector to remain globally competitive and environmentally responsible. With ambitious targets to increase crude steel capacity significantly by 2030-2031 and 2035-2036, these technologies will support intelligent capacity utilization, real-time monitoring, and decarbonisation efforts. View More

New Delhi: Intelligent automation , digital twins , advanced analytics , and AI-driven process control systems will be critical to ensuring that India's steel growth remains globally competitive and environmentally responsible, Steel Secretary Sandeep Poundrik said on Wednesday. Speaking at the inauguration of the Steel Pavilion at the ongoing India AI Impact Summit 2026 here, Poundrik said the country's crude steel capacity is targeted to increase from the current level of 200 million tonnes to 300 million tonnes by 2030-2031 and further to 400 million tonnes by 2035-2036. This expansion will be supported by parallel growth in mining output, logistics networks, beneficiation capacity, and downstream value addition. Such rapid scaling requires intelligent capacity utilisation, real-time monitoring, efficient energy management, decarbonisation strategies , and optimised capital deployment. AI is therefore positioned as a strategic enabler rather than a peripheral tool, he said. "Intelligent automation, digital twins, advanced analytics, and AI-driven process control systems will be critical to ensuring that India's steel growth remains globally competitive and environmentally responsible," the official said. Live Events The Secretary emphasised that as capacity expands, productivity, quality, safety, and sustainability must improve proportionately. India's steel consumption has nearly doubled from 77 million tonnes in 2014 to 2015 to 152 million tonnes in 2024 to 2025, reflecting the rapid pace of infrastructure expansion, urbanisation, manufacturing growth, and rising domestic demand, the Secretary said. He said major national initiatives in railways, highways, housing, renewable energy, defence production, and industrial corridors have reinforced steel's central role in nation-building. .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)

JSW Group is planning to drive into a market dominated by Maruti Suzuki, one in which Hyundai is a distant second, and one in which the top four companies make four out of five vehicles. But founder Sajjan Jindal has his eyes set on a different lane. View More

Demand revived as prices declined in the cement sector as the third quarter of the financial year 2026 presented a mixed performance for major players. According to a report by Nuvama, the industry saw an improvement in demand traction with volumes rising approximately 7 per cent year-on-year for 15 major companies. View More

New Delhi: Demand revived as prices declined in the cement sector as the third quarter of the financial year 2026 presented a mixed performance for major players. According to a report by Nuvama , the industry saw an improvement in demand traction with volumes rising approximately 7 percent year-on-year for 15 major companies. The growth occurred despite a sequential correction in realisations, which inched down 3 percent as non-trade prices corrected across various regions. The report noted that EBITDA per tonne increased 9 percent year-on-year to Rs 869 during this period. This performance was largely supported by substantial savings in power, fuel, and other operational expenses. However, on a sequential basis, the EBITDA per tonne fell 7.5 percent due to the downward trend in realisations. For the full fiscal year 2026, the industry volume growth is likely to settle at approximately 5 percent. Demand gained traction significantly in the third quarter, with the 15 major companies reporting a volume growth of 12 percent on a quarter-on-quarter basis. Live Events The report highlighted that the price correction observed in October and November 2026 is primarily due to subdued demand. This pressure on non-trade prices causes the gap between trade and non-trade segments to widen. However, a reversal of these cuts is visible in early 2026. Non-trade prices improve by Rs 15-20 per bag across regions in January 2026, effectively reversing the price cuts reported in the third quarter. The industry anticipates further improvement in pricing as demand remains healthy in the fourth quarter. Looking ahead, the report states, "We remain positive on the cement space". Competitive intensity is expected to determine future stock performance. Nuvama forecasted that the fourth-quarter volumes will report an uptick due to pent-up demand and a rise in government spending. "We forecast demand shall be healthy in FY27E with total infra capex in the recent Union Budget up 12% over FY26 revised estimate (RE) and 10% compared with FY26 budgeted estimate (BE). With pet coke prices rising, the impact on power and fuel costs shall be seen in Q1FY27; however, various cost savings initiatives by players would help in keeping costs under control," the report said. Recent price hikes and cost efficiency measures are projected to aid profitability for the sector. .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)