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Maruti leases 270,000 sq ft at Tag Avenue in Gurgaon
The quarterly activity was driven by fresh leases, with a share of 59%.Noida, on the other hand, contributed 24% to the leasing activity, with Noida Expressway and Noida City 2 being the prominent submarkets.However, Q3-2023 gross leasing volume was in line with the quarterly average of the past 8 quarters, broadly suggesting sustained demand in the region.Maruti Suzuki, the largest passenger car maker in India, has leased 270,000 sq ft of Tag Avenue, a commercial building in Gurgaon, two persons aware of the development said.is establishing a project with an investment of Rs 18,000 crore, and Suzuki Motorcycle India Pvt.

🇮🇳 India · 🗓️ October 18, 2023 · Construction

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Iron ore exports treble in first-half, China buys 95 per cent of shipments
67 per tonne (Rs 4,300 per tonne) in August.98 mt in H1FY23.87 per tonne (Rs 4,900 per tonne).The price of iron ore in the domestic market (Fe content 62 per cent) was $60 per tonne in October (Rs 5,000 per tonne) in Odisha, which has improved from $57.67 mt in FY21 – the highest in the last five years – and 16.

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🇮🇳 India · 🗓️ October 18, 2023 · Steel

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JSW Steel declared preferred bidder for Jaisinghpura North Block iron ore mine in Karnataka
3 per cent of the value of the mineral dispatched.JSW Steel has received a communication from the Karnataka government in this regard, the company informed the exchanges.The highest final offer price by the company to become a "Preferred Bidder" is 150."The Company has been declared as a preferred bidder vide communication dated October 11, 2023, received from the Office of the Director, Department of Mines and Geology, Government of Karnataka, for Jaisinghpura North Block, in the Auction held on August 2, 2023," the filing said.The projected iron ore resource is 17.

🇮🇳 India · 🗓️ October 18, 2023 · Steel

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India’s NMDC resumes iron ore supplies to RINL
This created a massive challenge for sustaining the plant operations as the inflow of iron ore was already constrained and the stocks of iron ore had reached a critical level because of heavy monsoon rains in the area of the mines, it added.“With the continuous and relentless efforts by Indian Railways, its KK line operations were restored on October 10, 2023, and supply of iron ore and railway rake movement to RINL from NMDC mines have resumed,” the statement said.RINL said that there was a major landslide along Indian Railways’ KK line in the early hours of September 24 this year and supplies from NMDC’s Bailadila sector, which is the main source of iron ore supplies for the company, had to be stopped.Meanwhile, RINL had made alternate arrangements from other sources like NMDC mines in Karnataka, Steel Authority of India Limited’s Bolani/Barsua iron ore mines, Orissa Minerals Development Company (OMDC) and Orissa Mining Corporation (OMC) to ensure smooth and uninterrupted operations of its two blast furnaces.

🇮🇳 India · 🗓️ October 18, 2023 · Steel

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Steel companies' margins may improve on lower input costs
If the recent strength in prices of steel sustain, steel spreads are likely to improve in the December quarter, Axis Securities said in a note.The cost of coking coal, which is used in the production of steel, is down by $45-$60 per tonne from the previous quarter.This is in contrast to the production volumes of other leading steel makers.The profitability of most domestic steel makers is set to improve by ₹500-₹2,000/tonne quarter-on-quarter in the three months to September, largely aided by lower cost of a key raw material, according to analysts, even as steel prices fell in the seasonally weak period.The improvement in profitability that steel producers see, though, will be capped because of steel prices moving 3-5% lower during the quarter, with prices of long steel products seeing an even sharper decline of up to 8%, according to analysts.

🇮🇳 India · 🗓️ October 18, 2023 · Steel

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