Chhattisgarh plant is a key to NMDC Steel shares

20 Mar 2023 CW Team

Analysts predicted that the recently listed NMDC Steel shares, which have increased by around 25% since their IPO in late February, will now follow the commissioning of their factory and the government's upcoming stake sale.

The business, which separated from the government-owned NMDC last year, is now traded separately on the stock exchanges. At Nagarnar in Chhattisgarh, it has an integrated steel plant with a 3 million tonne capacity that will be operational by the end of this month.

By 2030, India, the world's second-largest producer of steel, plans to create roughly 300 million tonne of steel annually, more than double the 120 million tonne it presently produces.

Most of the nation's steel manufacturers are increasing their production capacity using a combination of organic and inorganic routes in accordance with the government's strategy.

There will undoubtedly be businesses interested in purchasing this asset, but commissioning will be crucial. Also, this plant's capex intensity has been significant.

This plant reportedly cost NMDC between Rs 230 and Rs 200 billion.

Also read:
Cement cos' profitability may improve by up to 22% in Q4
Vedanta Aluminium pact with Dalmia cement to supply industrial wastes

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..