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Business Standard
2 days ago
- Business
- Business Standard
Barometers pare losses; Nifty above 25,050 mark
The key equity indices erased all early losses and traded with minor gains in the morning trade. The Nifty traded above the 25,050 mark. Metal shares gained for a third day in a row. At 10:30 ST, the barometer index, the S&P BSE Sensex, rose 316.95 points or 0.38% to 82,068.90. The Nifty 50 index added 83.30 points or 0.33% to 25,052.05. In the broader market, the S&P BSE Mid-Cap index rose 0.20% and the S&P BSE Small-Cap index fell 0.10%. The market breadth was positive. On the BSE, 1,884 shares rose and 1,777 shares fell. A total of 234 shares were unchanged. Buzzing Index: The Nifty Metal index added 0.99% to 9,551.45. The index rallied 2.03% in the three trading sessions. National Aluminium Company (up 3.29%), Jindal Stainless (up 1.67%), Vedanta (up 1.11%), Hindalco Industries (up 1.08%) and Tata Steel (up 1.03%), Jindal Steel & Power (up 0.78%), Adani Enterprises (up 0.67%), NMDC (up 0.6%), Hindustan Zinc (up 0.6%) and Hindustan Copper (up 0.54%) added. On the other hand, JSW Steel (down 0.9%), APL Apollo Tubes (down 0.44%), moved lower. New Listing: Shares of Anthem Biosciences were currently trading at Rs 726.35 at 10:21 IST on the BSE, representing a premium of 27.43% compared with the issue price of Rs 570. The scrip was listed at Rs 723.10, exhibiting a premium of 26.86% to the issue price. So far, the stock has hit a high of Rs 746.70 and a low of Rs 723.05. On the BSE, over 25.90 lakh shares of the company were traded in the counter so far. Result today: Andhra Cements (up 2.37%), Bansal Wire Industries (up 1.20%), Choice International (down 0.19%), CIE Automotive India (down 0.73%), Control Print (up 2.23%), Crisil (down 1.40%), DCM Shriram (up 0.41%), Dhanlaxmi Bank (down 0.90%), Eternal (up 1.50%), Havells India (up 0.40%), IDBI Bank (down 0.99%), Latent View Analytics (down 0.90%), Oberoi Realty (down 0.93%), Parag Milk Foods (down 1.05%), PNB Housing Finance (down 1.38%), UCO Bank (down 0.62%), UltraTech Cement (up 1.00%), and Wendt (India) (up 8.50%) will announce their result later today. Stocks in Spotlight: Hatsun Agro Product rallied 5.36% to Rs 1,003 after the companys consolidated net profit jumped 3.6% to Rs 135.19 crore on 9.1% increase in revenue from operations to Rs 2,590.28 crore in Q1 FY26 over Q1 FY25. ICICI Bank rose 1.50% to Rs 1,447.90 after the bank reported a standalone net profit of Rs 12,768.21 crore in Q1 FY26, up 15.45% as against Rs 11,059.11 crore posted in Q1 FY25. Total income increased 11.85% year on year (YoY) to Rs 51,451.81 crore in Q1 FY26. RBL Bank fell 2.38% to Rs 256.90 after the private lender's standalone net profit tumbled 46.07% to Rs 200.33 crore in Q1 FY26 as against Rs 371.52 crore posted in Q1 FY25. However, total income increased 4.85% year on year (YoY) to Rs 4,510.57 crore in the quarter ended 30 June 2025.
Business Standard
04-07-2025
- Business
- Business Standard
Nifty below 25,400 level; metal shares decline
The key equity benchmark traded with modest losses in early afternoon trade, as investors closely monitored the US-India trade deal. The Nifty traded below the 25,400 level. Metal shares declined for the second consecutive trading session. At 12:30 IST, the barometer index, the S&P BSE Sensex, declined 170.20 points or 0.20% to 83,069.27. The Nifty 50 index lost 54.15 points or 0.21% to 25,351.15. The broader market outperformed frontline indices. The S&P BSE Mid-Cap index fell 0.13% and the S&P BSE Small-Cap index shed 0.05%. The market breadth was negative. On the BSE, 1,919 shares rose and 1,933 shares fell. A total of 197 shares were unchanged. Derivatives: The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rose 0.88% to 12.50. The Nifty 31 July 2025 futures were trading at 25,433, at a premium of 81.85 points as compared with the spot at 25,351.15. The Nifty option chain for the 31 July 2025 expiry showed a maximum call OI of 48.9 lakh contracts at the 26,000 strike price. Maximum put OI of 64.4 lakh contracts was seen at 25,000 strike price. Buzzing Index: The Nifty Metal index shed 0.86% to 9,540.50. The index fell 1.64% in two consecutive trading sessions. Jindal Stainless (down 2.04%), Tata Steel (down 1.92%), Steel Authority of India (down 1.73%), Jindal Steel & Power (down 1.21%), JSW Steel (down 1.13%), Hindustan Copper (down 1.12%), APL Apollo Tubes (down 0.92%), Adani Enterprises (down 0.82%), NMDC (down 0.74%) and National Aluminium Company (down 0.44%) declined. On the other hand, Lloyds Metals & Energy (up 1.31%) and Hindalco Industries (up 0.04%) edged lower. Stocks in Spotlight: Zinka Logistics Solutions rose 1.45% after the company announced that the Reserve Bank of India (RBI) has issued a Prepaid Payment Instruments (PPI) license to TZF Logistics Solutions, a wholly owned subsidiary of the company. KP Green Engineering added 1.51% after the company announced that it has secured new orders totaling Rs 52.31 crore from multiple clients across five different segments.
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Business Standard
03-07-2025
- Business
- Business Standard
Switch to green steel in India will take decades, say industry leaders
Industry leaders have called for a gradual, step-by-step transition to green steel, urging supportive government policies and a focus on reducing emissions as part of India's sustainable growth agenda Saket Kumar Listen to This Article While India's steel industry is gearing up to transition towards green steel, a full-scale switch will take decades, steel industry leaders and experts said on Thursday. Meanwhile, they called for supportive government policies and a move to reduce emissions. Speaking at the 14th India Minerals and Metals Forum held by the Indian Chamber of Commerce (ICC) in New Delhi, Jindal Stainless Managing Director Abhyuday Jindal said the transition has started. "The shift to green steel is a transition, and adopting low-emission processes in production is the right starting point," he said. The successful transitions in other countries were largely enabled
Time of India
03-07-2025
- Business
- Time of India
Steel industry calls for safeguard measures to protect local players
New Delhi: Calling for protectionist measures to check cheap steel imports , Jindal Stainless Managing Director Abhyuday Jindal on Thursday said that the country has sufficient steel production capacity to meet the local demand. Jindal also said that in addition to the US and Europe, countries with very low steel production are also adopting protective measures. It is very important to protect "our country," Jindal said while addressing an Indian Chamber of Commerce 's event here. "The US has done it, Europe has been doing it for quite some time. Now, nations like in the Middle East, where there is not much steel production, Canada, where there isn't much steel production, are also going for some kind of protectionist measures," Jindal, who is also the President of the Indian Chamber of Commerce, said. Jindal also appreciated the steps taken by the government to safeguard the interest of the domestic steel industry . Live Events "There was substandard, Chinese material coming in (through) from government is taking a clear view, there is enough capacity in the country, we can produce any kind of grade, any kind of quality that is required," he said. As per industry estimates, India's installed stainless steel capacity stands at 7.5 MT, with a current utilisation of about 60 per cent, indicating significant potential for ramp-up, provided the right policy environment and demand momentum are sustained. As domestic capacities are lying idle and 30 per cent of the consumption is still coming from imports, investment in stainless steel is bound to get impacted, Jindal said. India's stainless steel imports rose to 1.73 million tonnes in FY25, with China, Indonesia, Vietnam and South Korea being the major contributors, as per the market research firm BigMint. Jindal also advocated for a separate National Stainless Steel policy and taxonomy to promote the interests of the stainless steel sector. The government had released a National Steel Policy for the steel sector in 2017. In December 2024, Union Steel Minister H D Kumaraswamy released a 'taxonomy on green steel ' for the steel industry with parameters for giving star ratings on products based on the amount of carbon dioxide (CO2) emitted during the production process.
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Business Standard
03-07-2025
- Business
- Business Standard
Steel industry calls for safeguard measures to protect local players
Jindal also said that in addition to the US and Europe, countries with very low steel production are also adopting protective measures Press Trust of India New Delhi Calling for protectionist measures to check cheap steel imports, Jindal Stainless Managing Director Abhyuday Jindal on Thursday said that the country has sufficient steel production capacity to meet the local demand. Jindal also said that in addition to the US and Europe, countries with very low steel production are also adopting protective measures. It is very important to protect "our country," Jindal said while addressing an Indian Chamber of Commerce's event here. "The US has done it, Europe has been doing it for quite some time. Now, nations like in the Middle East, where there is not much steel production, Canada, where there isn't much steel production, are also going for some kind of protectionist measures," Jindal, who is also the President of the Indian Chamber of Commerce, said. Jindal also appreciated the steps taken by the government to safeguard the interest of the domestic steel industry. "There was substandard, Chinese material coming in (through) from government is taking a clear view, there is enough capacity in the country, we can produce any kind of grade, any kind of quality that is required," he said. As per industry estimates, India's installed stainless steel capacity stands at 7.5 MT, with a current utilisation of about 60 per cent, indicating significant potential for ramp-up, provided the right policy environment and demand momentum are sustained. As domestic capacities are lying idle and 30 per cent of the consumption is still coming from imports, investment in stainless steel is bound to get impacted, Jindal said. India's stainless steel imports rose to 1.73 million tonnes in FY25, with China, Indonesia, Vietnam and South Korea being the major contributors, as per the market research firm BigMint. Jindal also advocated for a separate National Stainless Steel policy and taxonomy to promote the interests of the stainless steel sector. The government had released a National Steel Policy for the steel sector in 2017. In December 2024, Union Steel Minister H D Kumaraswamy released a 'taxonomy on green steel' for the steel industry with parameters for giving star ratings on products based on the amount of carbon dioxide (CO2) emitted during the production process. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
