China is set to snap up significant volumes of low-grade Indian iron ore in coming weeks, as Chinese steelmakers seek out cheaper raw materials to cope with meagre profits, said traders and analysts. On November 19, India scrapped a 50% export tax on iron ore that been in place since May, and although the country […]
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The Reserve Bank of India (RBI) seal is pictured on a gate outside the RBI headquarters in Mumbai, India Bank credit growth improved to 17.2% in the September quarter from 7% in the year-earlier period, reflecting pick-up in economic activities. “Credit growth remained broad-based: all population groups and bank groups recorded double-digit annual growth,” the […]
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Hindalco Industries Ltd. reported first quarter consolidated net profit grew 48% to a record ₹4,119 crore. EBITDA grew 27% to ₹8,640 crore. The results were driven by better macros, robust performance of aluminium downstream and copper businesses along with better operating efficiencies, the company said. During the quarter, the company reported consolidated revenue of ₹58,018 […]
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