The shares of Tata Steel Ltd rose after the company’s steel figures in September showed a surge in India and Europe, both more than a year ago and sequentially. The quarter also saw a rise in steel prices, and selling more is expected to result in higher profits, although higher input costs could be a buffer. However, production data showed slower than expected growth. This trend was evident in government data published for the entire steel industry. Tata Steel’s sales in India increased 19.5% from the previous year and 13.8% sequentially, while in Europe the equivalent number increased by 15% and 8.3% respectively. Data fromRead More →

Mumbai: Gasoline will be cheaper for Rs2 and diesel for Re1 per liter through Maharashtra since midnight Tuesday after the state government has reduced the value added tax (VAT) on fuels. Announcing the reduction of VAT on gasoline and diesel today, Finance Minister Sudhir Mungantiwar described it as a “gift of Diwali” to the inhabitants of the State. The revised tariffs will apply from midnight today, he said. “The Prime Minister has approved a proposal to reduce VAT on gasoline and diesel by Rs2 and Re1 one liter respectively.This is our Diwali gift to the masses,” Munti PTI said. He said the decision will causeRead More →