Latest Sectors News
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)
Engineering goods exports showed strong resilience, growing 10.4% year-on-year to $10.40 billion in January 2026. This growth, despite global uncertainties and high US tariffs, is attributed to steady demand and market diversification. The sector anticipates crossing $120 billion for 2025-26, with an interim trade deal with the US expected to further boost competitiveness. View More
Engineering goods exports have shown notable resilience over the past several months despite high US tariffs and persistent global uncertainty, according to industry body EEPC India . Pankaj Chadha, Chairman, EEPC India, said in a statement, "Engineering shipments continued their remarkable growth run in January 2026. The provisional quick estimate shows engineering goods exports recorded 10.4% year-on-year growth in January 2026 to $10.40 billion as compared to $9.24 billion in January 2025. On a cumulative basis, engineering shipments grew 4.52% to $101.13 billion in the April-January period of 2025-26 as compared to $96.76 billion in the corresponding period of the previous year." Chadha is of the view that these numbers are very encouraging, given that the growth has been recorded despite back-to-back challenges the exporting community has been facing. Apart from steady demands from some of the key countries, the product and market diversification strategy has contributed significantly to this growth. "Indian Engineering Exports are poised to cross 120 billion dollars in the year 2025/2026. The export outlook remains strong for the coming months as India and the US are close to concluding an interim trade deal. This will give a major boost to the engineering sector, which has been reeling under high tariffs imposed by the Trump administration. The trade deal with the US would also allow the Indian engineering sector to regain competitiveness in the world's largest economy," he added. EEPC India hopes that duties imposed by the US under Section 232 on steel and aluminium would also be eased going forward. "In all, there seems to be positive growth in both the short and medium run. The Indian government's timely support has always helped the engineering sector navigate tough times." 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!
Sensex was trading at 83,256.74, down 194.22 points or 0.23%; Nifty 50 opened at 25,752.65 was trading at 25,668.05, down 57.35 points or 0.22% View More
India is actively exploring new export destinations for its steel in the Middle East and Asia. This strategic shift aims to mitigate the effects of the European Union's carbon tax. The nation is also focusing on securing essential raw materials through long-term agreements and asset acquisitions. View More
India is seeking new steel export markets in the Middle East and Asia to offset the impact of the European Union's carbon tax that took effect in January, a government source said. India, the world's second-biggest producer of crude steel, ships roughly two-thirds of its steel exports to Europe, where flows have come under pressure following the EU's Carbon Border Adjustment Mechanism. Last week, Steel Secretary Sandeep Poundrik said the government would have to take action to support exports hit by Europe's carbon tax. "For exports, we are looking at new markets and we are trying to get agreements with countries in the Middle East where a lot of infrastructure is coming up, and also in Asia," said the source directly involved in decision-making, declining to be identified as the deliberations are confidential. "Till now, our exports were focussed on Europe but we are trying to diversify," the source added. Live Events India's federal Ministry of Steel did not respond to an email seeking comment. Mills are looking for government support to help them compete in non-EU markets where China has been dominant, a senior executive at a major steel firm said. Steel exports from China, the world's largest producer, have been resilient since 2023 and hit a record monthly high in December. Beijing plans to roll out a licence system this year to regulate alloy exports, as strong shipments have fuelled a growing protectionist backlash globally. SECURING RAW MATERIAL Explaining India's widening efforts to secure supplies of raw materials such as coking coal, limestone, manganese and other critical minerals, the source said New Delhi was increasingly pursuing long-term offtake agreements and asset acquisitions. State-run Steel Authority of India ( SAIL ) and miner NMDC are looking at Brazil, Argentina, Australia and the Middle East, the source said. SAIL and NMDC did not respond to emails seeking comment. "For coking coal asset acquisition, we are looking at Australia," the source said. Currently, around 95% of the sector's coking coal requirements is met through imports, with Australia supplying more than half. Last year, NMDC said it was exploring coking coal assets in Indonesia and Australia. .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)
