Aluminium stocks soar on China's tax rebate cut
Business Standard|November 19, 2024
The shares of aluminium manufacturers rallied on Monday on the back of a sharp rise in the price of the lightweight metal over the weekend, following China's announcement that it will withdraw export tax rebate for the commodity.
SUNDAR SETHURAMAN
Aluminium stocks soar on China's tax rebate cut

The shares of National Aluminium Company Ltd (NALCO) rose by 8.6 per cent, Hindalco by 3.8 per cent and Vedanta by 3.2 per cent. The aluminium prices in the spot market on the Multi Commodity Exchange (MCX) rose over 2 per cent.

China's withdrawal of the export tax rebate, which will be enforced from December, is likely to restrict aluminium flows from China in the short term.

Bu hikaye Business Standard dergisinin November 19, 2024 sayısından alınmıştır.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

Bu hikaye Business Standard dergisinin November 19, 2024 sayısından alınmıştır.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

BUSINESS STANDARD DERGISINDEN DAHA FAZLA HIKAYETümünü görüntüle
Smartphone PLI rings in record electronics exports
Business Standard

Smartphone PLI rings in record electronics exports

Electronics exports reached the highest-ever mark of $19.1 billion within a seven-month period of any financial year, at the end of October 2024. This is a 24 per cent growth over the $15.4 billion export figure for the sector during the same period in the last financial year, according to the latest government data.

time-read
1 min  |
November 20, 2024
Birla Opus adds fresh coat to raise capacity
Business Standard

Birla Opus adds fresh coat to raise capacity

Commences operations of 4th plant; becomes second-largest decorative paints player

time-read
1 min  |
November 20, 2024
Karnataka rolls out GCC framework, skilling initiatives
Business Standard

Karnataka rolls out GCC framework, skilling initiatives

Three dedicated global innovation districts to be set up

time-read
1 min  |
November 20, 2024
Business Standard

Subsidy for cargo e-3Ws restored, but halved to ₹25K

The central government has decided to restore the subsidy for cargo electric three-wheelers (e-3Ws) for the remaining part of financial year 2025, but with a reduced rate.

time-read
1 min  |
November 20, 2024
Business Standard

Tafe, AGCO claim HC relief in brand dispute

Chennai-based Tractors and Farm Equipment (Tafe) and AGCO said on Tuesday that a Madras High Court had favored them in their dispute about the Massey Ferguson tractor brand, citing an order to maintain \"status quo\".

time-read
1 min  |
November 20, 2024
°Wind energy at its peak, With 8 more yrs of growth,
Business Standard

°Wind energy at its peak, With 8 more yrs of growth,

After a financial turnaround ancl achieving a debt-free status' Suzlon Energy is focused on driving financial growth. J P CHALASANI, group chief executive officer of Suzlon, speaks with Jaden Mathew Paul in Mumbai about the prospects ofthe Indian wind energy sector' opportunities in defence and railways, and Suzlon's strategies to maintain its leadership. Edited excerpts:

time-read
2 dak  |
November 20, 2024
Business Standard

Adani Infra to pick 30% stake in PSP Projects

Adani Infra (India) Limited has signed a pact to acquire a 30 per cent stake in construction company PSP Projects Limited from its existing promoters for ₹685 crore in an all-cash deal.

time-read
1 min  |
November 20, 2024
Business Standard

Flipkart's BBD lifts Walmart global sales

US-based retail giant Walmart on Tuesday said its international sales in the third quarter got a boost from the 'Big Billion Days' sales event by its Indian e-commerce arm Flipkart.

time-read
1 min  |
November 20, 2024
Business Standard

4.8mn weddings mean business after lacklustre months

The wedding season is in full swing, and an estimated 4.8 million couples are expected to tie the knot before the year draws to a close.

time-read
3 dak  |
November 20, 2024
Meta to appeal against CCI penalty, diktat on data share
Business Standard

Meta to appeal against CCI penalty, diktat on data share

Menlo Park (California)-headquartered Meta Platforms on Tuesday opposed the ₹213-crore penalty imposed by the Competition Commission of India (CCI) along with a cease-and-desist directive that clamped down on data-sharing. Meta said it would appeal against the move.

time-read
3 dak  |
November 20, 2024