JSW Steel reports Q2 net profit of Rs. 1,595 crore on recovery in domestic demand

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JSW Steel, India’s second largest private steel manufacturer, swung back to profit in the July-September quarter as domestic demand recovered and the pandemic-induced lockdown curbs were eased across the country. The company reported a net profit of Rs 1,595 crore for Q2, down 37 per cent year-on-year but far better than the June quarter performance […]

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Kamath Committee report may force ferrous and non-ferrous firms to iron out loan-rejig challenges

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The K V Kamath Committee report has identified 26 sectors, including ferrous and non-ferrous, impacted by the pandemic for a loan restructuring scheme to be rolled out by banks and non-banking financial companies. The committee has identified five key ratios with different limits across sectors as a threshold for implementing a resolution plan. The five key ratios […]

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India’s sugar production to increase to 305 lakh tonnes in marketing year 2020-21: Ind-Ra

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Ratings agency, India Ratings (Ind-Ra) said it expects sugar production to increase to 305 lakh tonnes in sugar year 2020-21 (SS21), factoring in a cane diversion equivalent to 15 lakh tonnes of sugar. Domestic oversupply will continue in Sugar Season (SS) 2021 due to high carryover stocks and an expected increase in production, it said […]

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COMMENTARY – Higher sugar MSP positive, but domestic surplus situation overhung

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Authors: Ms. Khushbu Lakhotia, Senior Analyst, Corporate Ratings, India Ratings and Research (Fitch Group) & Mr. Jinesh Rajpara, Analyst, India Ratings and Research (Fitch Group)  The recent hike by Rs. 2 per kilogram (kg) in the minimum selling price (MSP) of sugar to Rs.31 per kg could generate an additional income of Rs.30-35 billion for […]

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