High input cost, weak steel prices to hit steel industry earnings: ICRA

Higher input costs coupled with softening steel prices is expected to hurt earnings of the domestic steel industry from December quarter onwards, ratings agency ICRA said. Among the input costs, skyrocketing coking coal prices in the spot market is hurting companies’ earnings, it said. Nonetheless, the industry’s absolute profitability metrics will still remain at healthy […]

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Robust demand and low iron prices to boost steel margins in second half of fiscal 2021-22

With demand uptick stemming from the government’s thrust on infrastructure, mainly in the rural markets, capacity utilisation for medium and small long steel product manufacturers is expected to improve in the coming quarters, said ratings agency ICRA in its report. While weak demand growth in domestic market saw larger players resorting to exports to cushion […]

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Despite concerns, India’s renewable energy sector’s outlook remains stable: ICRA

Payment delays to renewable energy (RE) developers besides slow progress in the signing of power purchase and sale agreements by procurers are among the key challenges constraining the growth of the sector, according to a recent report by ICRA. Senior Vice President and Co-Group Head, ICRA Ratings’ Girishkumar Kadam, said, the investment prospects in the […]

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Rising global prices of sugar brighten India exports prospects: ICRA

Increasing prices of sugar globally have brightened the prospects of sugar exports from India for the 2021-22 marketing year starting October, even without the government subsidy, rating agency ICRA said. For the last two years, sugar exports have been undertaken with a government subsidy for a mandated quantity alone. About 6 million tonnes quota was […]

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