Stocks of auto OEMs and component makers have fallen sharply due to FII sell-offs and earnings downgrade expectations. The upcoming Union Budget is anticipated to address industry demands for GST rate simplification, hybrid vehicle GST reduction, and improved PLI schemes. Despite superior 1-year returns, the BSE Auto index has struggled over the past six months.
JSW Steel seeks refund of Bhushan Power and Steel-linked payments
JSW Steel wants its money back. The company has asked banks for a refund related to its Bhushan Power and Steel resolution plan. This follows