Domestic steel prices to feel limited pressure in next 12-18 months: Moodys
The Dollar Business Bureau Moody's Investors Service on Wednesday said the domestic steel prices are expected to experience limited global pressure over the next 12-18 months due to the government’s adequate protectionist measures such as safeguards and anti-dumping duties. "Nevertheless, with domestic steel prices lower than international prices and adequate protections in place in the form of safeguards and anti-dumping duties, Moody's anticipates limited pressure on steel prices over the next 12-18 months," Moody’s said in a statement. Moody's expects India's steel consumption be in the proximity of India’s projected GDP growth of 7.5% and 7.6% in 2017 and 2018, respectively. Meanwhile, the global rating agency assigned Ba3 rating to JSW Steel's suggested senior unsecured notes. It said the proposed issue will primarily be ...
Indias top 200 companies to outperform Chinas: S&P
The Dollar Business Bureau The top 200 companies of India are set to outperform their counterparts in China despite infrastructure bottlenecks in the country, revealed a report by Standard & Poor’s (S&P) Global Ratings on Tuesday. “Our analysis of India's top 200 companies by market capitalisation against their Chinese counterparts shows that government influence is far greater for listed companies in China than in India,” said Mehul Sukkawala, Credit Analyst at S&P Global Ratings.‘This directly impacts the firms’ flexibility to cut capital spending, which normally results in weak profitability, and eventually displayed in more leverage,” he said. In India and China, there is a significant difference in the size of their private sectors. Private firms account for around 75 percent of the net debt ...
Essar Steel looks to double production
The company has a great production capacity of steel at Hazira in Gujarat, where they produce 10 million tons per annum. So, the company is expecting to record an 80-85% of total capacity utilization rate in April 2016, that is the coming financial year The Dollar Business Bureau Essar steel has a great production capacity of steel at Hazira in Gujarat, where they produce 10 million tons per annum Essar steel is now operating with 70% more capacity utilization, where they have doubled the production since November. The company is also expecting a good turnaround in the March quarter. The company has a great production capacity of steel at Hazira in Gujarat, where they produce 10 million tons per annum. So, the company ...
