Latest news with #NALCO
Economic Times
2 days ago
- Business
- Economic Times
Why is the stock market down today? Sensex slumps over 700 pts, Nifty slips below 24,600; 5 key reasons behind the decline
Indian stock markets experienced a significant decline on Monday. Sensex and Nifty both traded lower. Selling pressure in metal and IT stocks contributed to the downturn. This weakness overshadowed India's strong GDP growth figures. Global cues remained mixed. Investors grew cautious before key U.S. macroeconomic data releases. Broader markets also faced pressure, with small-cap and mid-cap indices slipping. Tired of too many ads? Remove Ads Here are five key reasons behind today's market decline: 1. U.S. tariffs on metals threaten Indian exporters Tired of too many ads? Remove Ads 2. Weak global cues and trade tension jitters 3. Caution ahead of U.S. Fed commentary and jobs data Tired of too many ads? Remove Ads 4. Domestic selloff in key sectors 5. Russia-Ukraine conflict Indian equity benchmarks fell sharply on Monday, with the Sensex and Nifty trading lower amid selling pressure in metal and IT stocks. The weakness overshadowed India's strong GDP growth figures, as global cues remained mixed and investors turned cautious ahead of key U.S. macroeconomic around 9:42 am, the BSE Sensex had declined 704 points, or 0.86%, to 80,747, while the Nifty50 was down 168 points, or 0.68%, at 24, overall market capitalisation of BSE-listed companies dropped by Rs 2.06 lakh crore to Rs 442.13 lakh crore. The Nifty Metal index led the losses with a 1.4% decline, while the Nifty IT index fell 1.25%, weighed down by concerns over the U.S. economy and trade policy. Broader markets also remained under pressure, with small-cap and mid-cap indices slipping 0.3% economy had posted a strong 7.4% GDP growth in the January–March quarter, driven by manufacturing and construction. However, that optimism failed to lift sentiment amid external sentiment turned sour after U.S. President Donald Trump announced plans to double tariffs on imported steel and aluminium to 50%, effective June 4, 2025. This move is expected to adversely affect Indian metal exporters like Tata Steel Hindalco , and NALCO , which have significant exposure to the U.S. exported $4.56 billion worth of iron, steel, and aluminium products to the U.S. in FY2025. The tariff escalation, though not immediately impacting trade, has added uncertainty and is weighing on stocks in the metal sector."President Trump's 50% tariffs on steel and aluminium is a clear message that the tariff and trade scenario will continue to be uncertain and turbulent. This headwind will impact markets," said Dr. VK Vijayakumar, Chief Investment Strategist, Geojit and European markets showed signs of stress as investors grappled with the implications of escalating U.S.-China trade tensions. Japan's Nikkei dropped 1.4%, Hong Kong lost 2.5%, and U.S. futures also edged lower — with S&P 500 and Nasdaq futures down up to 0.5%.Markets are also uncertain about whether the U.S. will follow through with the tariff hike, creating additional volatility. While some regional indices like South Korea's gained slightly due to political optimism, the overall sentiment remained Read: India's top 10 priciest stocks in 2025: MRF to Elcid, see who tops the list Investors are bracing for a heavy week of macroeconomic updates from the U.S., especially the non-farm payrolls report and Federal Reserve commentary, which could influence the path of interest U.S. Senate is also set to consider a $3.8 trillion tax-and-spending bill, adding to concerns about the country's ballooning $36.2 trillion federal debt. As a result, long-term U.S. Treasury yields are nearing the critical 5% mark, which is adding to pressure on global equity Governor Christopher Waller on Monday indicated that rate cuts are still possible this year, but much will depend on incoming data. For now, markets are pricing in a 75% chance of a rate cut in September, though the Fed has not explicitly confirmed this home, selling was broad-based across sectors. Metal and IT stocks, which have global exposure, were among the hardest hit, reflecting external risks. Additionally, 10 of the 13 major sectoral indices on the NSE opened in the strong domestic data — with India's Q4 GDP growth at 7.4% — was not enough to support markets. Investors appear to be locking in gains after recent highs, as global uncertainties loom large over the near-term geopolitical concerns also weighed on investor sentiment after Ukraine launched drone attacks on five airbases deep inside Russian territory, reportedly destroying several aircraft. The incident comes just ahead of a scheduled peace summit in Turkey, raising fears of a possible escalation in the conflict if Russia intensification of the Russia-Ukraine war could disrupt global supply chains, especially in energy and commodities, leading to renewed volatility in global Read: Ola Electric, Kalyan Jewellers among 10 firms where promoters pledge increased in Q4
Business Recorder
2 days ago
- Business
- Business Recorder
The top sources of US steel and aluminium imports
US President Donald Trump said on Friday he planned to double tariffs on steel and aluminium imports to 50% from 25%, starting from Wednesday, ratcheting up pressure on global producers and deepening his trade war. Here's a summary of the major trade partners it will affect. Steel Roughly a quarter of all steel used in the U.S. is imported, the bulk of it from neighbours Mexico and Canada or close allies in Asia and Europe such as Japan, South Korea and Germany. While China is the world's largest steel producer and exporter, it sends very little to the United States. Tariffs of 25% imposed in 2018 shut most Chinese steel out of the market. China exported 508,000 net tons of steel to the U.S. last year or 1.8% of total American steel imports. India's NALCO says profit doubles as higher aluminium, copper prices boost margins Aluminium For aluminum, the U.S. is more heavily reliant on imports. Roughly half of all aluminium used in the U.S. is imported, with the vast majority coming from Canada. At 3.2 million tons last year, Canadian imports were twice those of the next nine countries combined. The next largest sources of imports are the United Arab Emirates and China, at 347,034 and 222,872 metric tons, respectively. The U.S. aluminium smelting industry is small by global standards. Total smelter capacity in the country was just 1.73% of the global total according to the U.S. Geological Survey.
Hans India
3 days ago
- Business
- Hans India
NALCO holds meet on Smart Mining
Bhubaneswar: National Aluminium Company Limited (NALCO) organised a conference on Smart Mining & Manufacturing in Bhubaneswar on Friday on the theme 'Smart Aluminium: Driving Operational Excellence through Industry 4.0.' The event brought together key stakeholders from industry, academia and technology sectors to explore how digital innovation is reshaping manufacturing and industrial operations. Inaugurating the conference, NALCO CMD Brijendra Pratap Singh emphasised the importance of embracing Industry 4.0 technologies to boost efficiency and competitiveness. Singh highlighted the role of progressive government policies, such as support for start-ups and 'Make in India' initiative, in fostering self-reliance. He said India, as the fourth-largest economy, is witnessing strong investment and infrastructure growth, driving rapid expansion in the core and manufacturing sectors. In his welcome address, Jagdish Arora, Director (P&T), described Industry 4.0 as a revolution driven by advancements in automation, AI and IoT that enables transformative value creation across manufacturing and industrial operations. Vedanta Aluminium Limited CEO Rajiv Kumar graced the occasion as the distinguished guest while Sarajit Jha, Chief – Business Transformation & Digital Solutions, Tata Steel, joined the session virtually as a keynote speaker. Pankaj Kumar Sharma, Director (Production), and Tapas Kumar Pattanayak, Director (HR), NALCO, also shared their insights. Industry leaders from SAIL, Tata Steel, Vedanta, Deloitte India, EY-Parthenon and McKinsey & Company participated as distinguished speakers at the conference, contributing to discussions on emerging trends and strategies in the Industry 4.0 landscape. The conference provided a collaborative platform to exchange ideas, showcase emerging technologies and discuss strategies for accelerating Industry 4.0 adoption, featuring tech sessions and panel discussions on AI and data analytics. Technocrats, researchers, policy makers and delegates from the metal sector and allied industries shared technological know-how.
Hans India
7 days ago
- Business
- Hans India
PSUs making remarkable economic growth: Kishan Reddy
Hyderabad: Union Minister for Coal and Mines G Kishan Reddy congratulated the National Aluminium Company Limited (NALCO) and Hindustan Copper Limited (HCL) for their remarkable economic growth. On Wednesday, he stated that the Central Public Sector Undertakings (PSUs) are registering profitability in their performance due to the reforms implemented by the Central Government under the leadership of Prime Minister Narendra Modi over the past ten years. Once considered a financial burden for the government, public sector undertakings are now becoming profitable and emerging as key players in the country's economy. Their improved performance and demonstrated capabilities are gradually guiding India towards self-reliance. The Union Minister said that NALCO achieved unprecedented records for the first time in 2024-25 since its inception in 1981, contributing to significant economic development. Similarly, HCL reported the highest growth in the financial year 2024-25, following the path set by NALCO. Both PSUs stand as examples of progress in the mining and mineral sectors. The successes of these Indian PSUs reflect their ability to compete on an international level. Further, he noted that this positive transformation has only been possible since the Modi government assumed power in 2014, implementing innovations, accountability measures, reforms, and policy changes within the PSUs. These achievements are providing a new impetus to the country's economy at a crucial time when PSUs are playing a vital role in the vision of a developed India by 2047.
Business Standard
22-05-2025
- Business
- Business Standard
NALCO gains as Q4 PAT soars 105% YoY to Rs 2,078 crore
National Aluminium Company (NALCO) added 1.84% after the company reported a 104.59% surge in standalone net profit to Rs 2,078.37 crore in Q4 FY25, compared with Rs 1,015.83 crore in Q4 FY24. Revenue from operations jumped 47.18% YoY to Rs 5,267.83 crore in the quarter ended 31st March 2025. Profit before tax stood at Rs 2,759.64 crore in Q4 FY25, up 101.51% as against Rs 1,369.48 crore reported in the same period a year ago. Total expense declined 3.18% year on year to Rs 2,633.80 crore during the quarter. The cost of raw materials consumed stood at Rs 578.51 crore (down 15.01% YoY), while employee benefits expense was at Rs 413.25 crore (down 19.38% YoY) during the period under review. The companys revenue from chemicals was at Rs 2,536.66 crore (up 59.77% YoY) and income from aluminum stood at Rs 3,250.26 crore (up 32.68% YoY) during the period under review. Shri Brijendra Pratap Singh, CMD, stated that the companys growth gained significant momentum in the third and fourth quarters of FY25, as reflected in its robust financial performance and strong revenue growth. Enhancing efficiency, optimizing costs, and the unwavering commitment of our employees have played a pivotal role in enabling NALCO to maintain competitive pricing in a dynamic market environment. Furthermore, our strategic focus on process improvements has fostered a motivated, performance-driven workforce, he said. With aluminium prices firming up and demand steadily increasing, NALCO is well-positioned to sustain its growth trajectory. Looking ahead, Shri Singh reaffirmed the companys commitment to long-term sustainable growth through strategic expansions, including the 5th Stream expansion of the Alumina Refinery, the operationalization of the Pottangi Bauxite Mines, and the proposed expansion of the existing Smelter Plant and Captive Power Plant. These initiatives are expected to provide a strong foundation for sustainable and resilient growth, further strengthening NALCOs position in the global aluminium sector. National Aluminium Company (NALCO) manufactures and sells Alumina and Aluminium.
