Intentar ORO - Gratis
Miners, steel firms in limbo on tax uncertainty, weak prices
Mint Chennai
|December 27, 2024
Mining and steel companies are caught between a rock and a hard place.
Mining and steel companies are caught between a rock and a hard place. A lingering concern is that the Karnataka (Mineral Rights and Mineral Bearing Land) Tax Bill 2024—which proposes to impose tax retrospectively from 2005 at rates up to 3x the existing royalty rate—could significantly erode profitability.
The casualties are NMDC Ltd and Vedanta Ltd, the mining companies; and JSW Steel Ltd, which has a large steelmaking facility in Vijayanagar, Karnataka. Since the bill was introduced in the assembly on 16 December, shares of Vedanta, NMDC and JSW Steel have declined by 11.4%, 8.2%, and 8.5%, respectively.
Esta historia es de la edición December 27, 2024 de Mint Chennai.
Suscríbete a Magzter GOLD para acceder a miles de historias premium seleccionadas y a más de 9000 revistas y periódicos.
¿Ya eres suscriptor? Iniciar sesión
MÁS HISTORIAS DE Mint Chennai
Mint Chennai
Small-town wealthy dive into high-risk PMS schemes
Sophisticated, high-risk investments are no longer confined to the rich in metropolitan cities.
1 min
December 04, 2025
Mint Chennai
‘Targeting public debt appropriate during uncertainty’
India’s shift from targeting annual fiscal deficit to long-term debt was appropriate during a period of external economic uncertainty, chief economic adviser V. Anantha Nageswaran said.
1 mins
December 04, 2025
Mint Chennai
Services PMI rebounds in November
India’s services sector rebounded in November, as new business intakes increased amid subdued price pressures and improving demand, a private sw showed on Wednesday.
2 mins
December 04, 2025
Mint Chennai
Climate chaos: Megacities face rapidly rising risks of flooding
Urban spaces in the tropical monsoon belt are the most vulnerable
3 mins
December 04, 2025
Mint Chennai
Seeking affordable financial advice? Try fixed-fee RIAs
Sebi-registered RIAs earn from client fees, not commissions, ensuring conflict-free guidance
5 mins
December 04, 2025
Mint Chennai
IT sector sheds weight in stock market indices as AI rises
Since the start of the year, shares of the five largest firms have seen sharp drops: TCS fell by 23.47%, Infosys 17%, HCLTech 14.74%, Wipro 17.14%, and Tech Mahindra 9.97%.
2 mins
December 04, 2025
Mint Chennai
IT sheds weight in indices as AI rises
Combined weight of IT cos in BSE Sensex down to 18-year low
1 mins
December 04, 2025
Mint Chennai
JLR CEO Balaji's early trials: top exit, cyberattack impact
Gerry McGovern's abrupt removal has created uncertainty over brand and design strategy
3 mins
December 04, 2025
Mint Chennai
IndiGo flights hit by pilot rest rules, weather, leaves
DGCA probing disruption, working with IndiGo to minimize inconvenience
2 mins
December 04, 2025
Mint Chennai
Natco Pharma's cyclical model leaves revenue outlook cloudy
Shares of Natco Pharma Ltd have dropped 38% from the 52-week high of ₹1,505 (December 2024), as the Street grows cautious about its high-risk, high-reward business model.
1 mins
December 04, 2025
Listen
Translate
Change font size