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Coal crisis plays havoc on secondary steelmakers as steel prices begin to ease

Steel sector players are facing some heat owing to high input commodity prices as finished steel products have begun to decline since April after the Russia-Ukraine war broke out. Prices in the long products segment have declined on an average of 10-15 per cent to Rs 57,000 per tonne in Kolkata market from a high of Rs 65,000 a tonne. Coal, which is a key raw material for the
West Bengal Vivek Adukia Koustav Mazumdar Seshagiri Rao Read Centre Steel Rolling Mills Association

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India 'closely monitoring' global energy markets, supports release of oil from strategic storage

India, the world's third largest energy importing and consuming nation, on Saturday said it is closely monitoring the global energy markets to track any supply disruptions following the Russia-Ukraine conflict, and will support release of oil from strategic storages to cool prices. International oil prices climbed to an over seven-year high of $105.58 on February 24 over
Uttar Pradesh Read Centre Strategic Petroleum Strategic Petroleum Reserves Business News Global Markets

Government to seek Rs 15 lakh crore value for LIC in country's biggest IPO

The government is pushing for a valuation of about Rs 15 lakh crore for state insurer Life Insurance Corporation thatโ€™s soon expected to file for the nationโ€™s biggest initial public offering, people familiar with the matter said, even as arrangers awaited a final report on the firmโ€™s estimated worth.
Vrishti Beniwal Narendra Modi Suvashree Ghosh Reliance Industries Ltd Read Centre Life Insurance Corporation

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