The Steel Ministry reported that India’s iron ore export shipments were recorded at 15.28m tonnes (mnt) in FY22, falling sharply 67% yoy from 46.45m t in FY22. FY21. Factors weighing on exports were lower Chinese purchases and the scrapping of NMDC’s long-term iron ore export contracts with Japanese mills and South Korea’s POSCO.
NMDC closed more than 1 percent. National Aluminum and Welspun Corps were other big losers on the day. Nifty Metal ultimately ended down 0.55 percent.
big order
Genus Power Infrastructures said it had received a letter of award (LOA) for the appointment of Advanced Metering Infrastructure Service Provider (AMISP) including AMI system design with supply, installation and commissioning of 10 Lakhs Smart Prepaid Meters , DT and FMS meter level energy accounting of these 10 Lakhs smart meters.
“This is the largest order placed by any utility in the country for AMISP. This order reaffirms our position in the market and our ability as a provider of technologically advanced measurement solutions,” the company said.
The order value is Rs 828.57 crore (net of tax).
After the upgrade, the shares added more than 2 per cent to Rs 103.35.
explosion of orders
Premier Explosive said that it had signed a contract with a foreign entity for the supply of Rocket Motors (Sh-522 items intended for R-22 aviation guided missiles with V-287 Igniter) worth a total of $13.13 million (about approximately Rs 100 crore).
Items ordered are expected to be delivered within eighteen months.
This is on top of the Rs 58 crore request it received from the Ministry of Defense earlier in the week.
The stock finished down 4 percent.
