Dutch regulators have threatened Tata Steel Netherlands with substantial fines and potential closure of a coke plant in IJmuiden. The company faces a €27 million penalty if emissions of volatile organic compounds and heavy metals aren't reduced within eight weeks. Tata Steel has one year to comply with regulations at one plant or risk losing its operating permit. View More

Dutch regulators have threatened Tata Steel with fines and the forced closure of one of its coke plants in IJmuiden if the company doesn’t significantly reduce toxic emissions in the next twelve months. Tata Steel Netherlands will face fines of almost €27 million ($28 million) if it doesn’t take measures at its coke plants within eight weeks, the North Sea Canal Area Environment Agency said on Thursday. Emissions of volatile organic compounds and heavy metals at the plants continue to exceed the limit, the regulator said. The company also has a year to comply with legal requirements at one of the plants, otherwise the regulator will consider withdrawing its permit, forcing the coke factory to close “within a reasonable period.” Tata Steel must submit a plan of action within six weeks. “We find the way in which these decisions were made very painful,” Tata Steel said in a statement published on its website. The proposed recovery period of eight weeks is “completely unrealistic and impossible,” the company said. 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Last year, the plant was linked with elevated lung cancer rates and reduced life expectancy in the local area. Dutch authorities have fined it multiple times for emitting toxic raw cokes. Cokes, an essential ingredient in steel, are made by heating coal in the absence of air. Cleaning the plant up requires expensive upgrades. Nominations for ET MSME Awards are now open. The last day to apply is December 15, 2024. Click here to submit your entry for any one or more of the 22 categories and stand a chance to win a prestigious award. (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)

TKIL is aiming for 100 MW of electrolyser capacity by 2025. It has allocated ?1,500-2,000 crore for expansion and is collaborating with SoHHytec for technology. View More

India's finished steel imports, especially from China, surged to record highs in the first eight months of the fiscal year 2024-25. This influx, coupled with increased imports from Japan and South Korea, has prompted an investigation into potential safeguard duties. While domestic demand remains strong, smaller mills face operational cutbacks and job losses due to the competition from cheaper imports. View More

India's finished steel imports from China reached an all-time high during the first eight months of the fiscal year to March 2025, provisional government data showed, adding to concerns among domestic mills about cheap shipments from China. Total imports of finished steel were at an eight-year high with India, the world's second-biggest crude steel producer, a net importer during the period. India shipped in 6.5 million metric tons of finished steel, a 26.6% increase year-on-year, the data showed. China sent 1.96 million metric tons of steel to India during April-November, up 22.8% year-on-year, the data showed. Beijing mainly exported stainless steel, hot-rolled coil, plates, electrical sheets, galvanized plain or corrugated sheets, pipes, bars and rods, among other grades. 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China, Japan and South Korea accounted for 79% of India's total finished steel imports during the period. Hot-rolled coils were the most imported steel product during the period, while bars and rods topped imports in the non-flat product category. New Delhi has launched a probe to determine whether to impose a safeguard duty - a temporary tax - of up to 25% to curb unbridled steel imports. India became a net steel importer in the financial year that ended in March 2024, and imports have steadily increased since then. The flood of cheap Chinese steel has pushed India's smaller mills to scale down operations and consider job cuts, as New Delhi joins a growing list of countries contemplating measures to curb imports. Unlike other major economies, India's steel demand has remained strong, thanks to robust economic growth and the launch of new infrastructure projects. Finished steel exports during April-November fell to an eight-year low, the data showed. Italy was the largest export market for India's finished steel, but shipments fell 31.8% year-on-year. Finished steel exports to Britain and Belgium rose by 16% and 6.9% respectively, the data showed. Nominations for ET MSME Awards are now open. The last day to apply is December 15, 2024. Click here to submit your entry for any one or more of the 22 categories and stand a chance to win a prestigious award. (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)

Newmalayalam Steel's SME IPO, aiming to raise Rs 42 crore, offers shares at Rs 85-90 each, with a lot size of 1,600 shares. The company's shares are trading at a 28% premium in the unlisted market. Specializing in galvanized pipes, tubes, and sheets, Newmalayalam Steel has built a strong presence in Kerala. India's steel industry has seen steady growth, driven by raw material availability and labor costs. View More

The SME IPO of Newmalayalam Steel, which opened for subscription on Thursday, has received bids for 41,16,800 shares out of a total of 1.59 crore (1,58,92,800 shares) on the second day of bidding, achieving a subscription of 3.4 times. The total number of shares includes the market maker portion of 2,33,600 equity shares. As of 11:50 am today, the issue attracted bids for 1,40,54,400 shares and 8,784 applications from retail investors, along with 13,69,600 bids from non-institutional investors (NIIs). Meanwhile, the qualified institutional buyer (QIB) portion received 1 application for bidding of 4,68,800 shares. The company aims to raise Rs 42 crore through the SME IPO and list the shares on the NSE SME platform. The issue will remain open for bidding until December 23. Stock TradingOptions Trading Course For BeginnersBy - Chetan Panchamia, Options TraderView Program Stock TradingRSI Made Easy: RSI Trading CourseBy - Souradeep Dey, Equity and Commodity Trader, TrainerView Program Stock TradingComplete Guide to Stock Market Trading: From Basics to AdvancedBy - Harneet Singh Kharbanda, Full Time TraderView Program Stock TradingAlgo Trading Made EasyBy - Vivek Gadodia, Partner at Dravyaniti Consulting and RBT Algo SystemsView Program Stock TradingDerivative Analytics Made EasyBy - Vivek Bajaj, Co Founder- Stockedge and ElearnmarketsView Program Stock TradingStock Investing Made Easy: Beginner's Stock Market Investment CourseBy - elearnmarkets, Financial Education by StockEdgeView Program Stock TradingAdvanced Strategies in Stock Market MasteryBy - CA Raj K Agrawal, Chartered AccountantView Program Stock TradingA2Z of Stock Trading - Online Stock Trading CourseBy - elearnmarkets, Financial Education by StockEdgeView Program Stock TradingROC Made Easy: Master Course for ROC Stock IndicatorBy - Souradeep Dey, Equity and Commodity Trader, TrainerView Program Also Read: International Gemmological Institute Share Price Live (IGI IPO): IGI shares fall 6% post debut; stock lists at 22% premium Newmalayalam Steel IPO Size The IPO is a completely fresh equity sale of 46.4 lakh shares, through which the company plans to raise Rs 42 crore. Newmalayalam Steel IPO Price Band The company is offering shares at Rs 85-90 per share, with investors able to bid for 1,600 shares in one lot. Newmalayalam Steel GMP In the unlisted market, the company's shares are trading at a premium of Rs 25-30, or 28%. About Newmalayalam Steel Newmalayalam Steel is engaged in manufacturing galvanized pipes, tubes, and sheets. The company has built a brand presence in Kerala under the name "Demac Steel." Its products are widely used in general households across the state. Industry Overview India is the second-largest steel producer in the world, with an installed capacity of 154.1 MT in FY22. It is also the second-largest consumer of finished steel, with a consumption of 120 MT in FY23. The Indian steel sector has seen growth due to domestic availability of raw materials such as iron ore and cost-effective labor. In the past decade, finished steel production has grown at a CAGR of 2.8%, from 96 MT in FY14 to 122 MT in FY23. Newmalayalam Steel Financial Performance For the period ended June 2024, the company reported total revenues of Rs 154 crore and a net profit of Rs 5.19 crore. Objects of the Offer The net proceeds from the public offer will be used for technological upgrades of the existing manufacturing facility, expansion of the solar facility for power generation, civil construction of a new factory shed and storage facility, advertising and brand-building activities, funding incremental working capital needs, and other general corporate purposes. Lead Managers and Registrar Khandwala Securities is acting as the lead manager for the issue, and Kfin Technologies is the registrar. Issue Structure 10% of the offer is reserved for QIB investors 45% is reserved for retail investors 45% is reserved for non-institutional investors Important Dates IPO opens on December 19 and closes on December 23 Final allotment is expected to be made on December 24 Shares are expected to be listed on December 27 (Disclaimer: Recommendations, suggestions, views, and opinions provided by experts are their own and do not represent the views of The Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel) (You can now subscribe to our ETMarkets WhatsApp channel)

NACDAC Infrastructure IPO saw massive oversubscription. The company received bids almost 2000 times the shares offered. Allotment status can be checked on the BSE or registrar's website. The IPO listing is scheduled for December 24. Grey market premium hints at a strong debut. The company specializes in construction services. It has completed 63 projects worth almost Rs 100 crore. View More

NACDAC Infrastructure has become one of the highest subscribed IPOs in the SME market history after receiving bids nearly 2,000 times higher than the shares on offer. The company was merely seeing Rs 10 crore through its public offer and planned to list its shares on the BSE SME platforms . The bids received were for 411 crore shares worth over Rs 14,000 crore as against just 20 lakh shares on offer. Post the bumper response for the IPO , the company will finalise the share allotment later today. Investors can check the allotment status through the BSE or by visiting the registrar's website. Here's how you can check the status on BSE. Step 1: Visit the BSE Website ( https://www.bseindia.com/investors/appli_check.aspx ) Step 2: Please select the issue name, that is the company's name in the drop down. Stock TradingAlgo Trading Made EasyBy - Vivek Gadodia, Partner at Dravyaniti Consulting and RBT Algo SystemsView Program Stock TradingROC Made Easy: Master Course for ROC Stock IndicatorBy - Souradeep Dey, Equity and Commodity Trader, TrainerView Program Stock TradingOptions Trading Course For BeginnersBy - Chetan Panchamia, Options TraderView Program Stock TradingPoint & Figure Chart Mastery: A Comprehensive Trading GuideBy - Mukta Dhamankar, Full Time Trader, 15 Years Experience, InstructorView Program Stock TradingFutures Trading Made Easy: Future & Options Trading CourseBy - Anirudh Saraf, Founder- Saraf A & Associates, Chartered AccountantView Program Stock TradingDerivative Analytics Made EasyBy - Vivek Bajaj, Co Founder- Stockedge and ElearnmarketsView Program Stock TradingStock Markets Made EasyBy - elearnmarkets, Financial Education by StockEdgeView Program Stock TradingIchimoku Trading Unlocked: Expert Analysis and StrategyBy - Dinesh Nagpal, Full Time Trader, Ichimoku & Trading Psychology ExpertView Program Stock TradingMarket 104: Options Trading: Kickstart Your F&O AdventureBy - Saketh R, Founder- QuickAlpha, Full Time Options TraderView Program Stock TradingCryptocurrency Made Easy: Cryptocurrency CourseBy - elearnmarkets, Financial Education by StockEdgeView Program Stock TradingA2Z of Stock Trading - Online Stock Trading CourseBy - elearnmarkets, Financial Education by StockEdgeView Program Step 3: Enter the application number or PAN number to check the allotment status. Also Read: Mega multibagger! Billionaire Jhunjhunwala family makes 530x return in Inventurus IPO To check the status of NACDAC Infrastructure IPO allotment through the registrar, which is Maashitla Securities in this case, kindly follow the below steps. Step 1: Visit the Maashitla Securities website ( https://maashitla.com/allotment-status/public-issues ) Step 2: Select NACDAC Infrastructure IPO Step 3: Enter the PAN details and click search to know the status NACDAC Infrastructure IPO GMP The listing of NACDAC Infrastructure is scheduled on December 24. The GMP is also robust at nearly 142% over the IPO price, but the price cap means that the stock may see a maximum debut gain of 90%. Also Read: Laxmi India Finance files DRHP with Sebi for IPO NACDAC Infrastructure is primarily a core-construction company specializing in a comprehensive range of civil and structural services. Its core offerings encompass the construction of multi-story buildings, electrical works (both low tension and high-tension), steel structure works, as well as bridges (including FOBs and ROBs) and all associated civil and structural works. With a strong focus on quality and efficiency, the company serves a diverse clientele spanning government agencies, and private corporations. The company has an established track record of executing projects with more than a decade of experience in construction activities and has completed 63 projects worth Rs 96.74 crore so far. For the period ended June 2024, the company clocked total revenues of Rs 13.71 crore and net profit of Rs 1.6 crore. (You can now subscribe to our ETMarkets WhatsApp channel) (You can now subscribe to our ETMarkets WhatsApp channel)

Sensex, Nifty updates on 20 December 2024: Equity benchmark indices Sensex and Nifty plunged about 1.5 per cent on Friday, taking their downtrend to the fifth straight session, due to risk aversion in the global markets after the hawkish stance of the US Federal Reserve. The 30-share BSE benchmark tumbled 1,176.46 points or 1.49 per cent to settle at 78,041.59. During the day, it slumped 1,343.46 points or 1.69 per cent to 77,874.59. The NSE Nifty tanked 364.20 points or 1.52 per cent to 23,587.50. From the 30 blue-chip Sensex pack, JSW Steel, Nestle and Titan were the top gainers, while, Tech Mahindra, IndusInd Bank, Axis Bank, Mahindra & Mahindra, Tata Motors, Larsen & Toubro, State Bank of India, Tata Consultancy Services, UltraTech Cement and Reliance Industries were the biggest laggards. Meanwhile, the rupee recovered from its all-time low level and appreciated 10 paise to close at 85.03 against the US dollar. View More

Companies News Today Live Updates on December 20, 2024: Get the latest updates on the company's financial performance, strategic acquisitions, and market shifts. Explore detailed insights on mergers, acquisitions, financial results, and leadership changes that are shaping the business landscape across industries. View More

Dutch regulators have threatened to shut down a key coke oven at Tata Steel's IJmuiden plant within a year if pollution isn't curbed. Tata warned that closing the oven could jeopardize the entire steel plant, while arguing it had already made significant improvements. The company is seeking government subsidies to transition to cleaner energy by the end of the decade. View More

Dutch regulators on Thursday threatened to close down one of Tata Steel 's main ovens at its massive plant in IJmuiden if it doesn't limit pollution within a year. The regulators said Tata's coke oven at the plant continued to operate in breach of environmental regulations and they would consider revoking the licence for the oven if pollution wasn't cut within a year. Coke ovens are manufacturing plants or blast furnaces for making coking coal, a key raw material in steelmaking. Tata has repeatedly said closure of the oven would threaten the existence of the whole steel plant on the Dutch coast west of Amsterdam. Tata's factory in IJmuiden is one of the largest emitters of greenhouse gases in the Netherlands and research has found it is also responsible for a range of health problems in the region. FinanceFinancial Literacy i.e Lets Crack the Billionaire CodeBy - CA Rahul Gupta, CA with 10+ years of experience and Accounting EducatorView Program AstrologyVastu Shastra CourseBy - Sachenkumar Rai, Vastu ShashtriView Program Artificial Intelligence(AI)Mastering C++ Fundamentals with Generative AI: A Hands-OnBy - Metla Sudha Sekhar, IT Specialist and DeveloperView Program Web DevelopmentMaster RESTful APIs with Python and Django REST Framework: Web API DevelopmentBy - Metla Sudha Sekhar, IT Specialist and DeveloperView Program Artificial Intelligence(AI)AI-Powered Python Mastery with Tabnine: Boost Your Coding SkillsBy - Metla Sudha Sekhar, IT Specialist and DeveloperView Program Data AnalysisLearn Power BI with Microsoft Fabric: Complete CourseBy - Prince Patni, Software Developer (BI, Data Science)View Program Soft SkillsCross-Cultural Communication Mastery: Connect with ConfidenceBy - Prince Patni, Software Developer (BI, Data Science)View Program EntrepreneurshipFrom Idea to Product: A Startup Development GuideBy - Dr. Anu Khanchandani, Startup Coach with more than 25 years of experienceView Program EntrepreneurshipValidating Your Startup Idea: Steps to Ensure Market FitBy - Dr. Anu Khanchandani, Startup Coach with more than 25 years of experienceView Program Office ProductivityExcel Essentials to Expert: Your Complete GuideBy - Study At Home, Quality Education Anytime, AnywhereView Program StrategySuccession Planning MasterclassBy - Nigel Penny, Global Strategy Advisor: NSP Strategy Facilitation Ltd.View Program Artificial Intelligence(AI)ChatGPT Mastery from Zero to Hero: The Complete AI CourseBy - Metla Sudha Sekhar, IT Specialist and DeveloperView Program Artificial Intelligence(AI)AI and Analytics based Business StrategyBy - Tanusree De, Managing Director- Accenture Technology Lead, Trustworthy AI Center of Excellence: ATCIView Program Artificial Intelligence(AI)Collaborative AI Foundations: Working Smarter with MachinesBy - Prince Patni, Software Developer (BI, Data Science)View Program StrategyESG and Business Sustainability StrategyBy - Vipul Arora, Partner, ESG & Climate Solutions at Sattva Consulting Author I Speaker I Thought LeaderView Program FinanceAI and Generative AI for FinanceBy - Hariom Tatsat, Vice President- Quantitative Analytics at BarclaysView Program Web DevelopmentAdvanced C++ Mastery: OOPs and Template TechniquesBy - Metla Sudha Sekhar, IT Specialist and DeveloperView Program Office ProductivityAdvanced Excel Course - Financial Calculations & Excel Made EasyBy - Anirudh Saraf, Founder- Saraf A & Associates, Chartered AccountantView Program Data AnalysisAnimated Visualizations with Flourish Studio: Beginner to ProBy - Prince Patni, Software Developer (BI, Data Science)View Program Artificial Intelligence(AI)Tabnine AI Masterclass: Optimize Your Coding EfficiencyBy - Metla Sudha Sekhar, IT Specialist and DeveloperView Program MarketingFuture of Marketing & Branding MasterclassBy - Dr. David Aaker, Professor Emeritus at the Haas School of Business, UC Berkeley, Author | Speaker | Thought Leader | Branding ConsultantView Program The company's Dutch arm on Thursday questioned the way regulators had measured pollution at the plant and said it had already improved the situation at the oven considerably. It had earlier promised to close the oven once its promises to convert the steel mill to a cleaner one powered by natural gas or hydrogen have been realised by the end of the decade. Tata has been in talks with the Dutch government about subsidies for making this transition for several years, without reaching a deal. Nominations for ET MSME Awards are now open. The last day to apply is December 15, 2024. Click here to submit your entry for any one or more of the 22 categories and stand a chance to win a prestigious award. (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)

A mineral-bearing tax of ?100 a tonne on all miners will be levied with retrospective effect from April 1, 2005 View More

NACDAC Infrastructure's IPO received an overwhelming 1,976 times subscription, despite Sebi's tighter regulations for SME IPOs. The company aims to use the funds for working capital and general corporate purposes. View More

Despite Sebi's tightening of rules for theSME IPO market, it seems the demand garnered by these issues continues to remain unmatched. NACDAC Infrastructure, which asked for a mere Rs 10 crore through its IPO, received nearly 2,000 times subscription. The company offered 20.8 lakh shares for investors in the IPO, but received 1,976 times bids for 411 crore shares worth about Rs 14,386 crore. The issue was priced at Rs 35 at the upper end. The robust demand was driven by retail and non-institutional investors, whose categories were subscribed 2500 and 2600 times, respectively. The company proposes to use the net proceeds from the public offer for working capital requirements and general corporate purposes. Mega multibagger! Billionaire Jhunjhunwala family makes 530x return in Inventurus IPO Stock TradingTechnical Trading Made Easy: Online Certification CourseBy - Souradeep Dey, Equity and Commodity Trader, TrainerView Program Stock TradingMarket 103: Mastering Trends with RMI and Techno-Funda InsightsBy - Rohit Srivastava, Founder- Indiacharts.comView Program Stock TradingPoint & Figure Chart Mastery: A Comprehensive Trading GuideBy - Mukta Dhamankar, Full Time Trader, 15 Years Experience, InstructorView Program Stock TradingCandlesticks Made Easy: Candlestick Pattern CourseBy - elearnmarkets, Financial Education by StockEdgeView Program Stock TradingRSI Made Easy: RSI Trading CourseBy - Souradeep Dey, Equity and Commodity Trader, TrainerView Program Stock TradingDow Theory Made EasyBy - Vishal Mehta, Independent Systematic TraderView Program Stock TradingA2Z of Stock Market for Beginners: Stock Market Course For BeginnersBy - elearnmarkets, Financial Education by StockEdgeView Program Stock TradingMarket 104: Options Trading: Kickstart Your F&O AdventureBy - Saketh R, Founder- QuickAlpha, Full Time Options TraderView Program Stock TradingDerivative Analytics Made EasyBy - Vivek Bajaj, Co Founder- Stockedge and ElearnmarketsView Program NACDAC will finalise the share allotment tomorrow and the listing is scheduled on December 24. The GMP is also robust at nearly 142% over the IPO price, but the price cap means that the stock may see a maximum debut gain of 90%. NACDAC Infrastructure is primarily a core-construction company specializing in a comprehensive range of civil and structural services. Its core offerings encompass the construction of multi-story buildings, electrical works (both low tension and high-tension), steel structure works, as well as bridges (including FOBs and ROBs) and all associated civil and structural works. With a strong focus on quality and efficiency, the company serves a diverse clientele spanning government agencies, and private corporations. Also Read: Laxmi India Finance files DRHP with Sebi for IPO The company has an established track record of executing projects with more than a decade of experience in construction activities and has completed 63 projects worth Rs 96.74 crore so far. For the period ended June 2024, the company clocked total revenues of Rs 13.71 crore and net profit of Rs 1.6 crore. GYR Capital Advisors is acting as the lead manager to the issue and Maashitla Securities is the registrar. (You can now subscribe to our ETMarkets WhatsApp channel) (You can now subscribe to our ETMarkets WhatsApp channel)