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Ranchi, <keyword id="6357147" type="General" weightage="100" keywordseo="tata-steel" source="Orion">Tata Steel</keyword> sees enough growth opportunities within its existing facilities to actualise an expansion plan to achieve 40 million tonne capacity in <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword> by 2030, almost double of its current capability in the country, CEO and Managing Director <keyword id="1441007" type="General" weightage="50" keywordseo="t-v-narendran" source="Orion">T V Narendran</keyword> said. The steel giant will continue to hold talks with the UK government over a financial package for operations there, he said. The company has planned capital expenditure to the tune of Rs 12,000 crore for India operations, he said. "In India, basically we want to increase the capacity. We have already around 21 MT. It will be 25 MT soon because the Kalinganagar expansion is going on. We have a few more plans - Neelachal, Kalinganagar and Meramandali or Angul to achieve 40 million tonne capacity by 2030," <keyword id="347545" type="General" weightage="80" keywordseo="narendran" source="Orion">Narendran</keyword> told PTI in an interview here. There are multiple ongoing projects at various locations in India and the company has "prioritised completion of the 5 MTPA Kalinganagar expansion", he said. The company is in the process of expanding its plant capacity in Odisha's Kalinganagar to 8 MT from 3 MT. "Within nine months of acquisition, we have successfully ramped up (the capacity of) Neelachal Ispat Nigam Ltd to one million tonne on annualised basis," he said. The steel company, through its wholly-owned subsidiary <keyword id="13070787" type="General" weightage="50" keywordseo="tata-steel-long-products-ltd" source="Orion">Tata Steel Long Products Ltd</keyword>, had completed the acquisition of Odisha-based one million tonne per annum steel mill NINL for a consideration of Rs 12,100 crore in July 2022. On capacity expansion, he said, "Basically the capex (capital expenditure) which you see is Rs 12,000 crore in India. It will be at that level for the next three years at least." In reply to a query, he categorically said that the entire growth plan is based on "organic" expansion, and there is no plan for any "inorganic" growth in the near future. "Within our facilities, we have enough opportunities. We don't need to acquire anything to achieve our growth aspiration," he said. Speaking on the steel major's UK operations, he said there was "status quo" but the company will continue to pursue talks. "On UK operations, there is no further development. We had conversations a couple of months back. They had given us an offer which is below or lower than what we had sought. After that, there is no further development. We will continue to have conversations with them," Narendran said. Tata Steel has sought a financial package of 1.5 billion pounds from the UK government to execute decarbonisation plans at its Port Talbot facility in South Wales under which it will install new plant machinery with low-emission technologies for replacing two blast furnaces, which are nearing the end of life in 12-24 months, and bringing down the carbon footprint. Asked about the future course on projects there, he said it would depend on the outcomes of the dialogue and the financial support from the UK government. The steel major owns a 5-MT facility at Port Talbot, which is the UK's largest steelworks employing around 8,000 people. "Our route and pace of decarbonisation across geographies will be calibrated for each location based on the local regulatory framework, government support and willingness of customers to pay for higher-cost green steel," he said. Tata Steel group is among the top global steel companies with an annual crude steel capacity of 35 million tonne. The group recorded a consolidated turnover of USD 30.3 billion in the financial year ending March 31, 2023. <keyword id="4252143" type="General" weightage="50" keywordseo="tata-steel-limited" source="Orion">Tata Steel Limited</keyword>, together with its subsidiaries, associates, and joint ventures, is spread across five continents with an employee base of over 65,000. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/govt-to-roll-out-lost-mobile-blocking-tracking-system-pan-india-on-may-17/articleshow/100224875.cms">Govt to roll out lost mobile blocking, tracking system pan-India on May 17</a> <a href="https://www.businessinsider.in/stock-market/markets/news/fpi-bought-equity-worth-rs-18617-crore-in-may/articleshow/100225129.cms">FPI bought equity worth ₹18,617 crore in May</a> <a href="https://www.businessinsider.in/business/telecom/news/pm-modi-wants-us-to-start-building-rd-around-6g-technology-cisco-coo/articleshow/100224961.cms">PM Modi wants us to start building R&amp;D around 6G technology: Cisco COO</a>

Enough growth opportunities within facilities to take capacity to 40 MT in India: Tata Steel CEO

<keyword id="6357147" type="General" weightage="100" keywordseo="tata-steel" source="Orion">Tata Steel</keyword> has partnered with <keyword id="87" type="General" weightage="50" keywordseo="germany" source="Orion">Germany</keyword>'s SMS group to explore development of low carbon steel making process. As part of the MoU, both companies shall undertake further technical discussions and initiate actions for conducting Joint Industrial Demonstration of the EASyMelt technology developed by SMS group, Tata Steel said in a statement. "The demonstration will be executed at <keyword id="17711230" type="General" weightage="50" keywordseo="e-blast-furnace" source="Orion">E Blast Furnace</keyword> in Tata Steel's Jamshedpur plant with an objective to reduce CO2 emission by more than 50 per cent from blast furnace's baseline operation," it said. The EASyMelt (electric-assisted syngas smelter) technology is an iron-making solution that can be implemented in existing integrated steel plants to accelerate decarbonisation. <keyword id="1441007" type="General" weightage="50" keywordseo="t-v-narendran" source="Orion">T V Narendran</keyword>, CEO &amp; MD, Tata Steel, said "We actively look for solutions to facilitate the transition to green steel production, and thus contribute to a sustainable future. Further, <keyword id="3658" type="General" weightage="20" keywordseo="india" source="Orion">India</keyword> being the second largest steel producer in the world also places a huge responsibility on large manufacturers like Tata Steel to lead the country's decarbonisation journey." Tata Steel intends to take this association ahead with a deeper collaboration to access better technologies and processes to reduce the carbon footprint in a meaningful and consistent way, he said. Tata Steel is prioritising decarbonisation and has set a goal of achieving net zero carbon emissions by 2045. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/google-bard-cool-things-you-can-do-with-the-ai-chatbot/articleshow/101012445.cms">Google Bard: Cool things you can do with the AI chatbot</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/ev-stocks-on-the-radar-these-five-rode-the-electric-vehicle-rally-in-the-last-year/slidelist/101011986.cms">EV stocks on the radar – These five rode the electric vehicle rally in the last year</a>

Tata Steel, Germany's SMS group to explore low carbon steel making technology

New Delhi, May 4 () Tata Steel CEO and Managing Director T V Narendran has stepped down as President of the Indian Steel Association (ISA) months before the end of his term, according to the steelmaker. An ISA President is elected for two years and Narendran's tenure was to end in August this year.Confirming the development, a Tata Steel spokesperson said, "Tata Steel has withdrawn its membership from the Indian Steel Association (ISA) owing to various considerations. Accordingly, Mr T. V. Narendran, CEO &amp; MD, Tata Steel, has stepped down from his position as the incumbent President, ISA."An ISA official also confirmed the development but said the reason for his resignation is not known yet. Leading steelmakers such as JSW Steel Ltd, Steel Authority of India Ltd (SAIL), Rashtriya Ispat Nigam Ltd (RINL), Jindal Steel And Power Ltd (JSPL) and ArcelorMittal Nippon Steel Ltd are members of the ISA. Narendran is also a member of the Executive Committee of the global body World Steel Association (worldsteel). ABI Md MRMR

Tata Steel CEO T V  Narendran resigns as ISA President

New Delhi, May 5 () Tata Steel Ltd has withdrawn its membership from the Indian Steel Association (ISA), an apex steel industry body. Subsequent to it, the company's CEO and Managing Director (MD) T V Narendran has also stepped down from the Presidentship of the Association, tenure of which was scheduled to end in August. An ISA President is elected for a period of two years. Confirming the development, a Tata Steel spokesperson said, "Tata Steel has withdrawn its membership from the Indian Steel Association (ISA) owing to various considerations. "Accordingly, T V Narendran, CEO &amp; MD, Tata Steel, has stepped down from his position as the incumbent President, ISA." An ISA official also confirmed Narendran's resignation but said the reason for his sudden resignation is not known yet. Leading steelmakers such as JSW Steel Ltd, Steel Authority of India Ltd (SAIL), Rashtriya Ispat Nigam Ltd (RINL), Jindal Steel And Power Ltd (JSPL) and ArcelorMittal Nippon Steel Ltd are members of the ISA. Narendran is also a member of the Executive Committee of the global body World Steel Association (worldsteel). ABI DRRDRR

Tata Steel leaves Indian Steel Association; T V Narendran steps down as President

<ul><li>closerAt 7:45 am, the SGX Nifty was up 0.10%, indicating a tepid start for Nifty50.</li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock-market indices are likely to begin on a flat note on Thursday, led by mixed cues from the global markets. The Indian markets ended at record highs on Wednesday, with Nifty inching to the 14,000 mark. At 7:45 am, the SGX Nifty was up 0.10%, indicating a tepid start for Nifty50. On Wednesday, the <a href="https://www.businessinsider.in/stock-market/news/us-stocks-end-higher-as-600-stimulus-checks-set-to-arrive-this-week/articleshow/80037170.cms">US stocks closed higher</a> as $600 stimulus checks were set to hit the bank accounts of millions of Americans later this week, according to Treasury Secretary Steven Mnuchin. The Dow Jones Industrial Average closed 0.24% higher, and the S&amp;P 500 was up 0.13%. These are the stocks to watch out for during the trading session today: Tata Motors, Maruti, M&amp;M, Hero Motocorp, Bajaj Auto and other auto stocks Tata Motors, Maruti, M&amp;M, Hero Motocorp, Bajaj Auto and other auto stocks will be in focus during trade today. The auto companies are slated to report their <a href="https://www.businessinsider.in/business/auto/news/heres-what-to-expect-from-maruti-mm-hero-bajaj-auto-and-other-automakers-in-december-month-2020-auto-sale/articleshow/80021695.cms">monthly sales</a> for December tomorrow . Tata Steel Tata Steel CEO TV Narendran in his outlook for 2021 <a href="https://www.business-standard.com/article/companies/despite-covid-19-pandemic-tata-steel-bullish-on-fy22-demand-in-india-120123100070_1.html">said</a> the company is optimistic about demand for steel in India. And, the steel demand is expected to grow proportional to or higher than the GDP growth in FY22. Vedanta Vedanta emerged as the highest bidder for Radhikapur west coal block in Odisha. The mine has total reserves of 312 million tonnes and an approved per annum extraction capacity of 6 million tonnes. Adani Green Energy Adani Green Energy said it had commissioned a 100 megawatt (MW) solar power project at Khirasara in Gujarat. V-Mart Retail V-Mart Retail informed investors that it had opened four new stores, three in the state of Uttar Pradesh, one in the state of Jharkhand, taking its total number of stores in the country to 274. Shriram Transport Finance Shriram Transport Finance has approved and allotted senior secured rated, listed redeemable non-convertible debentures (NCD) of the face value of ₹10 lakh each on a private placement basis. Dewan Housing Finance Corporation (DHFL) Kapil Wadhawan has yet again come up with a revised proposal for acquiring Dewan Housing Finance Corporation (DHFL). In a letter to RBI, DHFL administrator R Subramaniakumar and the Committee of Creditors (CoC), the erstwhile promoter of the bankrupt NBFC said that he would make an upfront payment of ₹9,000 crore in cash and ₹31,000 crore will be paid within a period of seven years in equal annual instalments with 8.5% per annum interest. Indian Bank Indian Bank said it had raised ₹392 crore through perpetual bonds. The bank has further raised tier 1 capital funds through a private placement of Basel III compliant AT-1 perpetual bonds aggregating to ₹392 crore, the public sector bank said in a regulatory filing. Fortis Healthcare The rating agency ICRA has upgraded the long-term rating for the line of credit of Fortis Healthcare’s subsidiaries — SRL Limited and SRL Diagnostics Private Limited. SEE ALSO: <a href="https://www.businessinsider.in/politics/world/news/mitch-mcconnell-says-the-senate-will-consider-trumps-demand-for-2000-stimulus-checks-but-rejects-initial-vote/articleshow/80017236.cms" data-type="tilCustomLink">Mitch McConnell says the Senate will consider Trump's demand for $2,000 stimulus checks but rejects initial vote</a> <a href="https://www.businessinsider.in/thelife/news/american-airlines-just-completed-the-boeing-737-maxs-first-passenger-flight-in-the-us-since-march-2019/articleshow/80016117.cms" data-type="tilCustomLink">American Airlines just completed the Boeing 737 Max's first passenger flight in the US since March 2019</a> <a href="https://www.businessinsider.in/india/news/new-strain-of-uk-covid-19-virus-is-a-lot-more-contagious-warns-indias-health-ministry/articleshow/80011618.cms" data-type="tilCustomLink"></a> <a href="https://www.businessinsider.in/india/news/new-strain-of-uk-covid-19-virus-is-a-lot-more-contagious-warns-indias-health-ministry/articleshow/80011618.cms" data-type="tilCustomLink">The new strain of COVID-19 is a lot more contagious, warns India's Health Ministry</a>

Top stocks to watch — Tata Steel, Vedanta, Adani Green, Tata Motors, Maruti, M&M, DHFL, V-Mart, Indian Bank, and others

<keyword id="6357147" type="General" weightage="20" keywordseo="tata-steel" source="Orion">Tata Steel</keyword> on Tuesday announced the commissioning of a carbon capture unit at its plant in Jamshedpur. The unit can capture five tonnes of carbon per day, the company said. The company did not disclose the financial details of the project. "Tata Steel today (Tuesday) commissioned a five tonnes per day (TPD) carbon capture plant at its Jamshedpur Works, making it the country's first steel company to adopt such a carbon capture technology that extracts carbon dioxide (CO2) directly from the blast furnace gas," Tata Steel said in a statement. Tata Steel will reuse the captured CO2 on site to promote the circular carbon economy, it said. Explaining the process, the company said the carbon capture and utilisation (CCU) facility uses amine-based technology and makes the captured carbon available for onsite reuse. The depleted CO2 gas is sent back to the gas network with increased calorific value. The CCU plant was inaugurated by Tata Steel CEO and MD T V Narendran. Narendran said, "The operational experience gathered from the plant will give us the required data and confidence to establish larger carbon capture plants in future." He added that as the next step, the company aims to establish scaled up facilities of CO2 capture integrated with utilisation avenues. SEE ALSO <a href="https://www.businessinsider.in/business/news/zomato-co-founder-gaurav-gupta-exits-from-zomato/articleshow/86193568.cms" data-type="tilCustomLink">The sequence of events leading up to the exit of Gaurav Gupta from Zomato</a> <a href="https://www.businessinsider.in/business/startups/news/lenskart-vision-fund-will-invest-20-million-in-eye-technology-startups/articleshow/86188885.cms">Lenskart is setting aside $20 million for technologies like instant glasses, spectacles for the colourblind and other breakthrough ideas</a> <a href="https://www.businessinsider.in/education/news/an-indian-software-icon-says-dont-push-kids-need-not-learn-coding-early/articleshow/86190611.cms">An Indian software icon says kids need not learn coding early</a>

Tata Steel commissions first ever plant in Jamshedpur to capture carbon dioxide

Private steel major <keyword id="6357147" type="COMPANY" weightage="20" keywordseo="tata-steel">Tata Steel</keyword> will pay a total of ₹270.28 crore as annual bonus for the accounting year 2020-2021 to its eligible employees of all applicable division /units of the company, a release said. A <keyword id="398939" type="PERSON" weightage="20" keywordseo="memorandum-of-settlement">Memorandum of Settlement</keyword> was signed on Wednesday between Tata Steel and the Tata Workers' Union, for payment of annual bonus for the accounting year 2020-2021, the release issued by the company said. The total payout for eligible employees of all applicable divisions/ units of the company will be Rs 270.28 crore. Out of this, various divisions at Jamshedpur including Tubes, an amount of ₹158.31 crore will be given. The minimum and maximum annual bonus payable will be ₹34,920 and ₹3,59,029 respectively. T V Narendran, CEO &amp; MD, Atrayee Sanyal, Vice President (HRM) and other senior executives signed on management's behalf while Sanjeev Kumar Choudhary, president, <keyword id="230274" type="ORGANIZATION" weightage="20" keywordseo="Tata-Workers-Union">Tata Workers Union</keyword>, Shailesh Kumar Singh, deputy president, Tata Workers' Union, Satish Kumar Singh, general secretary, Tata Workers' Union and other office bearers signed on Union's behalf. Further, a Memorandum of Agreement has also been signed between the steel company and the Indian National Metal Workers' Federation (INMWF) and Rashtriya Colliery Mazdoor Sangh (RCMS). Total payout on account of annual bonus at Coal, Mines and FAMD is ₹78.04 crore approximately. Another Memorandum of Settlement was signed on Wednesday between Tata Steel and the <keyword id="11890253" type="UNKNOWN" weightage="20" keywordseo="tisco-mazdoor-union">Tisco Mazdoor Union</keyword>. Total payout on account of annual bonus for growth shop is ₹3.24 crore approximately. The agreement was signed by Avneesh Gupta, <keyword id="45171" type="POSITION" weightage="20" keywordseo="VP">VP</keyword> (<keyword id="474813" type="ORGANIZATION" weightage="20" keywordseo="TQM">TQM</keyword> and E&amp;P), Atrayee Sanyal, VP (HRM), and other senior executives signed on management's behalf and Rakeshwar Pandey, president, Tisco Mazdoor Union, Adityapur, Shio Lakhan Singh, general secretary, Tisco Mazdoor Union and the other office bearers signed on Union's behalf. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/urban-company-on-lookout-for-15000-service-professionals-in-50-cities-in-india/articleshow/85447261.cms">Urban Company is on the lookout for 15,000 service professionals as it wishes to tap into 50 cities by the end of this year</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/android-auto-will-replace-with-google-assistant-driving-mode-in-android-12-phones/articleshow/85447812.cms">Android Auto on phone screens will not be available on Android 12</a>

Tata Steel announces ₹270 crore annual bonus for all eligible employees for 2020-21

Bhubaneswar, Jan 24 () Tata Steel Kalinganagar has been honoured at the World Economic Forum (WEF) 2020 for its recent admittance into the Global Lighthouse Network.
The network is a small but growing group of global corporations that are showing leadership in applying fourth industrial revolution technologies to drive financial and operational impact.
Tata Steel's CEO &amp; MD T V Narendran, who represented the company at the WEF 2020 held in Davos, accepted the award at the World Economic Forum, a Tata Steel release said.
In July 2019, TSK became the first and only Indian manufacturing plant to be included in the WEF's Lighthouse Network, when 10 new factories, including TSK, were added to the Global Lighthouse Network. Tata Steel's IJmuiden plant in the Netherlands is already a member of this network, it said.
"It is a proud moment for all of us as Tata Steel Kalinganagar (TSK) joins the prestigious Lighthouse Network of the World Economic Forum. TSK has the distinction of featuring several firsts in the Indian steel industry.
"At Kalinganagar, we not only have state-of-the-art equipment and utilities but also drive higher productivity through automation and digital interventions. As we increase our capacity at TSK to 8 MnTPA, we will continue to implement the best technologies and innovate across the value-chain to drive operational excellence," Narendran said.

A whitepaper titled Global Lighthouse Network: Insights from the Forefront of the Fourth Industrial Revolution published by the Global Lighthouse Network in collaboration with McKinsey &amp; Company said that Tata Steel's greenfield steel plant in Kalinganagar "is helping to set a new standard in the speed at which a factory can achieve full capacity from complete nascency".
It additionally improved time to market by 50 per cent, due to significant investments in digital and analytics solutions, as well as capability-building to develop the digital skills of a relatively junior and inexperienced team, the paper added.
Commissioned in 2016 and spread over 3,000 acres in Kalinganagar industrial complex in Jajpur district of Odisha, TSK attained production levels at its rated capacity in less than two years and is the largest single-location greenfield steel project in India. SKN BAL

Tata Steel Kalinganagar honoured at World Economic Forum 2020

New Delhi, Apr 10 () Global steel industry body worldsteel has postponed the release of its Short Range Outlook (SRO), a publication on steel demand scenario, citing disruptions due to the coronavirus outbreak. The Brussels-based World Steel Association (worldsteel) said it now plans to release the outlook for April in the month of June. "In light of the unprecedented disruptions of the COVID-19 pandemic, worldsteel has taken the decision not to publish its April Short Range Outlook (SRO) for steel demand this month. "The current plan is to release a full SRO in early June when we trust the markets will have stabilised somewhat, as we see they are doing in China," the body said in a statement. However, worldsteel will share some observations on the market next week. The body further said the monthly publication of global crude steel production data is unaffected by recent events and the figures for March will be released on April 22. The World Steel Association (worldsteel) is one of the largest industry associations in the world, with members in every major steel-producing country. JSW Steel Chairman Sajjan Jindal is its vice chairman, while Tata Steel CEO and MD T V Narendran and ArcelorMittal Chief L N Mittal are member of its Executive Committee. Members represent around 85 per cent of global steel production. ABI ABMABM

COVID-19: World Steel Association defers publication of Short Range Outlook

<ul class="summary-list"><li><keyword id="12493068" type="UNKNOWN" weightage="60" keywordseo="home-builders" source="Orion">Home builders</keyword> can't find basic materials they need to complete the backlog of <keyword id="11964300" type="UNKNOWN" weightage="60" keywordseo="construction" source="Orion">construction</keyword> projects.</li><li>The NAHB claims that in 2021, more than 90% of builders reported delays and materials shortages.</li></ul>Home builders can't find basic materials like lumber or steel, which is delaying — and increasing the price of — the construction of <a href="https://magazine.realtor/daily-news/2021/09/17/report-america-is-short-524m-homes">5.24 million homes</a> now needed to meet the demand of this year's buyers.Home Depot, and maybe even Congress, is here to save the day. The National Association of Homebuilders (NAHB) <a href="https://nahbnow.com/2021/06/record-number-of-builders-report-material-shortages/">says</a> that in 2021, more than 90% of builders reported delays and materials shortages. Plus, new taxes from the Biden administration have also driven prices higher. Amid historic-high demand for homes, retailers like <a href="https://www.cnbc.com/2020/08/04/home-depot-to-speed-up-deliveries-with-new-distribution-centers.html">Home Depot</a> are investing billions to serve a market in crisis. Even with these investments, builders have become so concerened, they are seeking help from Congress. Home builders fear the bottleneck could make the crisis worse as demand doesn't seem to be slowing down anytime soon.In the cycle of supply and demand, this is bad news for buyers worried about continued bidding wars and a lack of options. Redfin says November <a href="https://www.redfin.com/news/november-new-low-for-home-inventory/">marked an all-time low </a>for available housing and predicts the number of available homes for sale will decline to historic levels in 2022. "The low inventory is driving up housing prices and reducing affordability across the nation," Redfin Chief Economist Daryl Fairweather told Insider. "When inventory is low, the market becomes more competitive, leading to bidding wars that drive up housing prices."<h1>Expensive materials mean expensive homes</h1>In November, the Biden administration slapped tariffs of nearly 18% on Canadian softwood lumber producers that import to the US, <a href="https://www.enr.com/articles/53119-us-doubles-tariffs-on-canadian-softwood-lumber-contractors-expect-higher-prices">doubling the rate</a> of the Trump administration. The US <a href="https://www.canada.ca/en.html">accounts for 75%</a> of the value of those exports from Canada, so economists <a href="https://www.nahb.org/~/media/NAHB/advocacy/docs/top-priorities/lumber/nahb-lumber-tariffs-letter-to-biden-120321">predict </a>additional costs and supply constraints. Random Lengths, an information center for the wood and products industry, confirms that as of December, the price of framing lumber <a href="https://www.randomlengths.com/Help/Price-Guide-Revisions/">jumped </a>$1,000 per thousand board feet, marking a 167% increase since late August. The CEO of Tata Steel, T.V. Narendran, <a href="https://www.cnbc.com/2021/11/22/steel-prices-to-trend-higher-compared-to-the-last-10-years-tata-steel.html">told</a> CNBC that steel prices are expected to trend above $600 per ton in the coming years.In the meantime, lumber prices have <a href="https://nahbnow.com/2022/01/latest-wave-of-rising-lumber-prices-adds-more-than-18600-to-the-price-of-a-new-home/">nearly tripled</a> in the past four months, according to a study from the NAHB. The organization calculated that as a result, the price of an average new single-family home has climbed by more than $18,600 while nearly $7,300 has been added to the market value of the typical new multi-family home."Despite the increase in sales, <keyword id="11957056" type="UNKNOWN" weightage="60" keywordseo="housing-affordability" source="Orion">housing affordability</keyword> remains a major concern," said Danushka Nanyakkara-Skillington, NAHB assistant vice president of forecasting and analysis. "With building material pricing, the challenge for builders in 2022 will be to deal with higher input costs while making sure home prices remain within reach for American home buyers."<h1>Builders take their concerns to Congress and the private sector offers help</h1>NAHB Chairman Chuck Fowke said that Congress can help get homes built faster. "Policymakers need to work on supply chain improvements and controlling costly <keyword id="11894140" type="UNKNOWN" weightage="60" keywordseo="inflation" source="Orion">inflation</keyword>," Fowke said. "Addressing lumber tariffs would be a good place to start."In 2021, NAHB CEO Jerry Howard and senior staff met with lawmakers from the Domestic Policy Council, National Economic Council, and the Office of the Vice President to discuss various concerns including, mill capacity issues, mill worker shortages, and housing affordability.While a resolution is yet to be made, Robert Dietz, NAHB's Chief Economist, says that policy makers will play a pivotal role in creating a solution. He added that "housing affordability fell to a decade-low during the third quarter of 2020, and as interest rates are expected to rise this year, housing affordability will be under additional pressure in 2022.""Inflation will be a top economic challenge for 2022 and 2023," Dietz told Insider. "While monetary policy will tighten, policymakers can also help fight inflationary pressures by improving supply-chains. Doing so will reduce costs, such as construction costs for new homes and apartments."In the meantime Home Depot plans to help builders get quicker and cheaper access to materials by investing as much as $1.2 billion in supply-chain facilities over the next five years."The professional contractors represents approximately 45% of our total sales," Home Depot told Insider. "Our pros sales growth outpaced our DIY customers in Q3 and pros continue to tell us that project demand is strong and their backlogs are robust and still growing."Backloags of unfinished building projects may be a good thing for Home Depot. Home builders and buyers, on the other hand, would prefer to have sufficient materials to get those projects completed quickly.Are you a homebuilder having trouble getting construction materials? Or a new homebuyer whose construction project is delayed? Reach out to this reporter at <a href="mailto:alloyd@insider.com" target="_blank" rel="noopener noreferrer">alloyd@insider.com</a> to share your story.

Home builders are desperate for quick and inexpensive materials, so they're turning to Home Depot and Congress for help

Kolkata, Mar 8 () Hero Enterprise chairman SunilKant Munjal has lauded the regulatory framework of the countrysaying it is getting better and regulators are now stepping inpromptly to handle financial crisis.India is currently experiencing the "pain oftransition", Munjal said at the launch of his book "The Makingof Hero"."A lot of questions on IBC was raised but the way itis functioning... in the next 2-3 years, it will be a smoothfunctioning system," Munjal said at the programme on Saturday.Stakeholders had raised concerns as cases dragged onfor months and years in the NCLT and NCLAT and some of themost important cases have eventually settled in the SupremeCourt.On Goods and Services Tax, Munjal said although theinitial concept of GST was simple, it has now become complexowing to "a lot of political compromises".Nevertheless, he expects that complications around thelatest tax structure would be addressed and GST willeventually evolve into a simpler form.Asked about the RBI's intervention in Yes Bank and thepossibility of SBI picking up a 49 per cent stake in it,Munjal said, "It sends a very mixed signal. On one hand, itproves that the regulatory bodies are awake, On the other, itscared a lot of people who are not able to access theirdeposits."On the state of the economy, he said it is expectedthat consumption may start picking up from the next 2-3 monthsbut it will take 5-6 quarters for a full-fledged recovery tostep in.Asked about the novel coronavirus threat on theeconomy, Munjal said, "I am concerned but not worried. Thenegative impact of the virus should start receding by month-end but it needs to be seen how it impacts."Tata Steel MD and CEO T V Narendran who was present atthe programme said the government has acted swiftly in the YesBank case and its assurance to address problems within atimeframe of 30 days is very prompt. BSMNN NN

Munjal positive on Indian regulatory framework

New Delhi, Jan 8 () The government's decision to open up coal sector without end-use restrictions will help boost both production and mining efficiency, industry body CII said on Wednesday.
 The government approved an ordinance to ease mining laws that will allow global players to enter the coal sector, Union Minister Dharmendra Pradhan said on Wednesday, terming it "a mother reform in the coal industry".
 CII President Vikram Kirloskar said that allowing 100 per cent FDI in coal mining will help India not only to harness its coal reserves, which were earlier available only for captive use of steel and power, but also help many leading foreign players establish operations in India with their new age technology in mining.
 This will help unleash another source of energy in times of uncertainty in global oil prices due to the ongoing conflict in the Middle East, he said in a statement.
 "The opening up of the sector without end-use restrictions will also boost both production and mining efficiency besides substituting import of coal worth about Rs 30,000 crore," he said.
 During 2018-19, around 125 million tonnes of thermal coal was imported by India, resulting in a forex outgo of around USD 8 billion (about Rs 57,000 crore), CII said.
 It added that opening the sector will also create more employment opportunities as mining is a highly employment intensive sector.
 Further, the chamber hailed the amendments made to the MMDR Act extending the validity period of clearances for two years for mining leases expiring in 2020.
 "This will not only facilitate smooth transition of the leases to the new lessee but will also reduce the shortage of minerals and avoid the disruption of mining activity in the country," it said.
 T V Narendran, Vice President, CII and CEO and Manging Director, Tata Steel Ltd said the Cabinet's approval for promulgation of Mineral Laws (Amendment) Ordinance 2020 will facilitate easing rules for auctioning of coal mines for commercial purposes and also for seamless transfer of clearances for mining leases expiring on March 31, 2020. RR 
RVK

Opening up of coal sector to boost production, mining efficiency: CII

Twenty year old S Sri Ram, a <keyword id="6357470" type="COMPANY" weightage="100" keywordseo="Salem">Salem</keyword> resident made headlines when it was announced that he had emerged as the all-India topper in the highly-competitive final examination of the <a href="http://www.businessinsider.in/searchresult.cms?query=chartered+accountancy&amp;sortorder=effectivedate">Chartered Accountancy</a> (CA) course and the <keyword id="382675" type="UNKNOWN" weightage="100" keywordseo="Common-Proficiency-Test">Common Proficiency Test</keyword>. The results of both these examinations were announced on Monday. 
 A student of the Salem branch of the South India Regional Council of the Institute of <keyword id="22871" type="PERSON" weightage="100" keywordseo="Chartered-Accountants">Chartered Accountants</keyword> of India, Sri Ram secured 613 marks out of 800 (76. 63%) in the examinations that were held back in May. 
 What’s even more commendable is the fact that this was Sri Ram’s first attempt. And, if the Salem branch office is to be believed, it was also the second time in 66 years of the <keyword id="6364696" type="ORGANIZATION" weightage="100" keywordseo="ICAI">ICAI</keyword>’s existence that a student from Salem had passed with such a high score. 
 
However, this is also the second consecutive time that a student from <a href="http://www.businessinsider.in/searchresult.cms?query=tamil+nadu&amp;sortorder=effectivedate">Tamil Nadu</a> had secured the All-India first rank in the CA final exam. Last year, James John Britto of <a href="http://www.businessinsider.in/searchresult.cms?query=CHENNAI&amp;sortorder=effectivedate">Chennai </a>secured the first rank with 74.38% (595/800). 
 Sri Ram, whose father K V Srinivasan is a retired <keyword id="20154" type="ORGANIZATION" weightage="100" keywordseo="tamil-nadu">Tamil Nadu</keyword> State Transport Corporation employee and his mother R Badma, the district library officer in Perambalur was visibly elated after the results were announced and understandably, so. “This is my first attempt and thus I’d prepared well and was expecting to clear both groups as well get a rank within 10,” he admitted. 
 
After finishing his higher secondary from Vidhya Mandir Higher Secondary School, Sri Ram had immediately joined the CA foundation level, where he secured the seventh rank in the all-India CA intermediate level. He then completed the foundation course in June 2012 with 180 marks. Two years later, he secured the all-India first rank in the intermediate level of the Company Secretaryship course of the Institute of Company Secretaries of India. 
 
What more, he had also reportedly taken the Company Secretaryship course while doing his articleship for the CA course with CR chartered accountant C Narendran in Salem. 
 
Sri Ram’s success no doubt is an example of determination, passion and extreme hardwork. 
 
On being asked about the secret behind his win, Ram disclosed that he followed a method that his father taught him. “Most of the students procrastinate and rush through the books in the last four or five months. But I resolved to study at least two hours every day in a consistent manner,” 
 
Ram, who at the moment is in his last month of the third year articleship training, a three-year mandatory training period for CA students is yet to make up his mind on whether he wants to take up a corporate job or go ahead with professional practice. 
 
Lucky for him, time and luck- both are on his side. 
 
Image credit: Facebook

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