Indian companies shut factories, issue profit warnings

A large number of manufacturing companies in India have informed that they are shutting down their plants in accordance to the government’s action plan to combat Coronavirus COVID 19, with some warning that this will impact earnings. “The domestic industry is being impacted in unprecedented ways with increasing levels of uncertainty,” said Polycab Industries, one […]

JSPL Apr-Jun steel output up 17% as Angul ramps up

Jindal Steel & Power Limited reported a 17% year-on-year jump in its steel output for the three months from April to June, 2109. This compares to a 20% jump seen in the previous quarter. JSPL produced 1.57 million tons of steel and steel products during the quarter, slightly higher than the 1.51 millon tons reported […]

Uttam Sugar Mills gets acknowledgement for doubling of ethanol capacity

Uttam Sugar Mills Ltd informed that it obtained acknowledgement from the government of India after doubling its Ethanol distillery capacity. The company, engaged in production of sugar, Ethanol and power generation, said it has doubled its existing ethanol capacity is 22,500 Kilo Liters (KL). Under India’s industrial rules, large enterprises are required to inform the […]

GAIL starts operations at polyethylene plant in Uttar Pradesh

GAIL India Limited, a government natural gas transmission and marketing company, said it has started operation of its first UNIPOL polyethylene process line with a capacity to produce 4,00,000 tons of polyethylene per year in its Pata plant in Uttar Pradesh. GAIL’s flexible high-density polyethylene (HDPE), linear low-density polyethylene (LLDPE) swing plant provides access to […]

Vedanta’s aluminium production rate at 1mtpa

Vedanta Resources said its current aluminium production rate is 1 million tons per annum and that the company’s overall production guidance for the current financial year remains unchanged at 1.2 mtpa. It also said the commissioning of pots at the first line of the 1.25 mtpa Jharsuguda-II Aluminium smelter was completed by end of July […]