Miners, steel firms in limbo on tax uncertainty, weak prices
Mint Mumbai|December 27, 2024
Mining and steel companies are caught between a rock and a hard place. A lingering concern is that the Karnataka (Mineral Rights and Mineral Bearing Land) Tax Bill 2024—which proposes to impose tax retrospectively from 2005 at rates up to 3x the existing royalty rate—could significantly erode profitability.
Ashish Agrawal

The casualties are NMDC Ltd and Vedanta Ltd, the mining companies; and JSW Steel Ltd, which has a large steel-making facility in Vijayanagar, Karnataka. Since the bill was introduced in the assembly on 16 December, shares of Vedanta, NMDC and JSW Steel have declined by 11.4%, 8.2%, and 8.5%, respectively.

Diese Geschichte stammt aus der December 27, 2024-Ausgabe von Mint Mumbai.

Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.

Diese Geschichte stammt aus der December 27, 2024-Ausgabe von Mint Mumbai.

Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.

WEITERE ARTIKEL AUS MINT MUMBAIAlle anzeigen
Mint Mumbai

Small investors chase new fancy in unlisted avenue

Lured by the promise of outsized returns, early access to high-growth companies, and lower fees, retail investors are venturing into the unregulated and risky world of unlisted securities.

time-read
2 Minuten  |
December 28, 2024
Mint Mumbai

Home lenders eye pot of gold in affordable loans

Higher returns from small-ticket loans, govt schemes tempt mortgage lenders

time-read
3 Minuten  |
December 28, 2024
Suzuki, the man behind India's people's car, dies
Mint Mumbai

Suzuki, the man behind India's people's car, dies

Osamu Suzuki, the visionary who brought affordable mobility to millions in India with the Maruti 800 and positioned the country as Suzuki Motor Corp.'s global growth engine, has died. He was 94.

time-read
2 Minuten  |
December 28, 2024
Mint Mumbai

Events, weddings to help hoteliers do better in H2

Room to grow

time-read
2 Minuten  |
December 28, 2024
Help wanted: US factories seek workers for nearshoring boom
Mint Mumbai

Help wanted: US factories seek workers for nearshoring boom

Craig Jones's biggest problem for years was winning new business for his family-run plastics company headquartered in Louisville, Ky. Today, the challenge is finding workers to meet the company's growing orderbook as companies increasingly source more of their parts and products from the U.S.

time-read
4 Minuten  |
December 28, 2024
Services exports save the day for current account in Sep quarter
Mint Mumbai

Services exports save the day for current account in Sep quarter

A rise in services exports helped narrow India's current account deficit (CAD) in the September quarter, although this marked the second consecutive quarterly deficit after hitting a surplus in the final three months of FY24.

time-read
1 min  |
December 28, 2024
EVs at airports to cut emissions
Mint Mumbai

EVs at airports to cut emissions

Government plans to add EV charging infra to airports

time-read
1 min  |
December 28, 2024
Mint Mumbai

India's Textile Exports a Silver Lining as Trade Deficit Widens

Experts attribute this growth to govt policies, trade deals, and adoption of new technologies

time-read
3 Minuten  |
December 28, 2024
JSW Neo to acquire 02 Power; EQT and Temasek to exit
Mint Mumbai

JSW Neo to acquire 02 Power; EQT and Temasek to exit

The transaction entails acquisition of 02 Power Midco Holdings and 02 Energy SG, and is subject to customary nods

time-read
1 min  |
December 28, 2024
Mint Mumbai

Rupee falls to record low as dollar bids spike

The rupee fell to an all-time low on Friday, as maturing non-deliverable forwards and currency futures boosted dollar demand, while the sharp fall led to panic dollar buying by importers.

time-read
1 min  |
December 28, 2024