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“All of them -integrated steel mills, secondary steel mills and MSMEs in the sector - will benefit from the scheme. This is a demand-driven scheme, and there is a huge demand for speciality steel,” he added.
In an endorsement for the government’s Productivity-Linked Incentive (PLI) scheme for speciality steel, India’s top six steelmakers are set to produce speciality steel within the first year of the announcement of this scheme, Union steel minister RCP Singh told ET.
“The scheme has been designed with input from the industry, and the top six companies will soon enter the speciality steel sector. Six top companies – including 4 international and 2 domestic players - will enter in (producing speciality steel) the first year itself,” Singh said.
Talbros Q3 net profit rises 144% at Rs 10.6 crore
Total Income from operations rose 35.6 per cent to Rs 132.1 crore in the third quarter of financial year 2020-21 as compared to Rs 97.4 crore revenue in October-December period of the previous fiscal year. PTI
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Auto component maker Talbros on Friday reported a whopping 144 per cent jump in consolidated net profit at Rs 10.6 crore for the quarter ended in December.
The company had posted a net profit of Rs 4.3 crore in the third quarter of the financial year 2019-20, Talbros Automotive Components Ltd (TACL) said in a release. Total Income from operations rose 35.6 per cent to Rs 132.1 crore in the third quarter of financial year 2020-21 as compared to Rs 97.4 crore revenue in October-December period of the previous fiscal year.
India Auto Inc responds to Budget 2021
The Finance Minister of India, Nirmala Sitharaman presented the Budget 2021, which has been looked upon wishfully by all-industries alike. For India Auto Inc, which was hoping for massive reforms that could help repair the damage witnessed in 2020, the budget has received a mixed bag of response. Here’s what India Auto Inc thinks of the Budget 2020-2021.
KENICHI AYUKAWA, PRESIDENT, SOCIETY OF INDIAN AUTOMOBILE MANUFACTURERS
“In a visionary budget, the government has adopted an expansionary stance with a thrust on infrastructure building with measures for efficiency improvement and increasing competitiveness. Good macroeconomic growth will translate to good auto sector demand. Specifically, the vehicle scrappage scheme has a good intent and the auto industry would be keen to work with the government on suggestions for maximizing benefits to environment and society.”