Thu, Feb 15, 2024 10:05 AM
Higher coal prices seen impacting steel industry’s growth plan
A Flip by Shubhangi Gupta
The board of Surya Roshni today announced that the company will hold its board meeting on November 14 wherein they will consider an interim dividend and bonus share issue to its shareholders. “It is hereby informed that a Board Meeting of the Company is scheduled to be held on Thursday, 14th November, 2024, inter alia, to consider declaration of interim dividend to the equity shareholders.
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Silver prices fell 0.04% to ₹90,781 per kilogram on Thursday ahead of the US Federal Reserve's interest rate decision, with global prices down 0.21% at $31.27 per ounce. The Fed's expected rate cut could drop silver prices, but strong Indian demand could drive imports up to 6,500-7,000 tonnes and push prices to $40 per ounce by the end of the financial year.
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Emkay Global Financial downgrades Hindalco to SELL from Reduce, citing a disappointing outlook from Novelis, which has withdrawn its EBITDA/t guidance due to concerns over scrap spreads and China's liberalization of scrap imports. Emkay cuts Novelis's EBITDA/t estimate to USD477 from USD501 for FY25.
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