HRC prices in traders’ market have sustained at Rs60,000/te for third week in a row on positive global cues and signs of demand revival in China. Spot spread was aided by coking coal price dropping to US$322/te. Rebar-HRC premium has contracted further to Rs1,740/te- lowest since Nov-22 owing to firm global HRC prices.
TCS MD & CEO Rajesh Gopinathan has decided to step down from the company to pursue other interests. The company’s Board has appointed Mr. K Krithivasan as the CEO designate, with effect from March 16, 2023; he will be appointed as the Managing Director & CEO in the next financial year (FY24), subject to shareholders’ approval.