Business
Sterlite Copper launches coffee table book highlighting role of copper in the modern world
Highlighting the importance of copper and its contribution to the modern world, Sterlite Copper launched a coffee table book, showcasing its origin and its definitive role in shaping the modern world, at the SICCI CXO Conclave, held in Chennai.
Unveiled by Mayur Karmakar, MD, International Copper Association, India, with Ms. A. Sumathi, Chief Operating Officer, Sterlite Copper, the 70-page book comes with an interesting title “Hi I’M COPPER”.
The book traverses the entire journey of copper from its discovery in 9,000 B.C. in an Egyptian river to the current times, focusing on its integral role in creating the modern world as we know it today. The book also traces the lifecycle of the metal and covers the entire gamut of its industrial and sectoral usage ranging from Power, Defence, Automobiles, Healthcare, FMCD among others.
Speaking at the launch of the Coffee Table Book, Ms. A. Sumathi, Chief Operating Officer, Sterlite Copper said: “We are delighted to unveil the copper coffee table book ‘Hi, I’m Copper’. The book aims to essay the journey of Copper and Sterlite’s smelting story. Over the last 25 years, Sterlite Copper has leveraged on technology to upgrade its processes and we had always benchmarked our practices to the global standards in terms of energy efficiency, copper recovery, effluent treatment while being sensitive to our corporate ethos of ESG standards.”
The book highlights how Sterlite Copper, which began with a 100 KTPA Smelter in the year 1996, went on to become the largest supplier of Copper in India, meeting nearly 36 per cent of the country’s copper demand by 2018. The operations of the plant are also benchmarked against global best-practices, with certifications in Quality, Environment, Occupational Health & Safety, Energy.
The plant has also invested heavily in environmental safeguards such as Gas Scrubbers, Effluent Treatment Plants and Reverse Osmosis Plants in order to ensure a safe and sustainable operation in Thoothukudi. The plant has been certified for its Zero Liquid Discharge, Water Consumption Management, Waste Reduction and Repurposing Waste towards Sustainable Applications.
The book also clearly brings out the economic benefits of the Thoothukudi plant in Tamil Nadu. It had emerged as a pillar of support for the community and a provider of livelihood to thousands of people. The plant engaged about 1,000 trucks/tankers on daily basis with consistent load, thereby providing livelihood to around 9,000 truck drivers and cleaners per month. It had over 650 supply and service partners and helped them generate a business of close to $134 million every year. The total number of dependent domestic companies for supply of raw material from Sterlite Copper was 381 and contributed approximately $295 million to the exchequer.
Additionally, it provided more than 17 per cent of Thoothukudi port’s total revenue. Even the by-products of the copper smelting like sulphuric acid, phosphoric acid, gypsum and copper slag act as critical input for a number of important industries. While sulphuric acid is the primary raw material for chemical and fertilizer, gypsum is a key ingredient for cement production.
Sumathi adds: “Copper is the third most used metal in industrial and civil applications across the world and its constantly increasing demand increases the need for production, thereby having a direct impact on employment opportunities & downstream industries. We at Sterlite have created direct employment for 4,000 people and impacted more than 20,000 people engaged in various supplier and customer units. Through the book, we want everyone to become aware about the journey & importance of copper and Sterlite, which together contributed immensely to the overall economy, not just at a national level, but also at a State and District level.”.
Prof. Ashutosh Sharma, Institute Chair Professor, Department of Chemical Engineering, Indian Institute of Technology, Kanpur & Former Secretary, Department of Science & Technology, government of India, who wrote the foreword for the coffee table book, says” “I believe Copper is one of the key drivers of Industry 4.0 and beyond. An invisible enabler, copper’s role in the future of our world will be all pervasive from our homes to outer space explorations.
“I’m delighted that the importance of copper is being covered in a comprehensive way in the book being launched today. I wish to congratulate the team Sterlite for conceiving and executing this much needed document of value to its many stakeholders from the traditional industries to Industry 4.0 and Digital/cyber technologies.”
Also speaking at the occasion, Mayur Karmakar, MD, International Copper Association India, said: “Copper is the third-most-essential metal in the world, contributing to the environmental and socio-economic development across the globe. The demand for the crucial metal, which is a key input for multiple sectors, is expected to further raise sustainable growth in the post-pandemic scenario.”
Another significant aspect of the book is that it brings into focus, the role of the company in building an aspirational and empowered society with all the stakeholders working in tandem for the common good all. For instance, under the Muthucharam initiative, the company plans to build a smart school and a well-equipped hospital for the community. Plans are also afoot to plant 1 million trees to make Thoothukudi, one of the greenest cities in India. Other initiatives include providing clean drinking water to every family in Thoothukudi. More than 2,300 families have already benefited from this project,Tamira Surabhi till date.
Business
Sensex – Nifty Open Lower Amid Weak FII Sentiment, Midcap & Smallcap Stocks Lend Market Support
Key Highlights:
– Sensex fell 171 pts, Nifty down 35 pts; midcaps, smallcaps held strong.
– FIIs sold Rs 3,694 crore worth of stocks; DIIs bought Rs 2,820 crore.
– Nifty’s bearish engulfing pattern suggests continued caution; 25,000 key support.
Mumbai: Indian equity benchmarks Sensex and Nifty began Friday’s session in the red, weighed down by selling pressure in large-cap stocks. At 9:25 am, the Sensex declined by 171 points or 0.21 percent to trade at 82,087, while the Nifty dropped 35 points or 0.14 percent to 25,075.
Heavyweights Drag, Broader Market Holds
Major drag on the indices came from key constituents such as Axis Bank, Bharti Airtel, Kotak Mahindra Bank, and HDFC Bank. Financial stocks, FMCG, and private banking segments were under pressure. However, midcap and smallcap segments outperformed, providing resilience to the overall market.
Gainers on the Sensex included M&M, Tata Steel, Power Grid, L&T, Infosys, and Maruti Suzuki, reflecting strength in sectors like auto, metals, and infra.
Sectoral Picture Mixed
On the sectoral front, gains were recorded in auto, IT, PSU banks, metals, realty, energy, media, infrastructure, and commodities. Meanwhile, financial services, FMCG, and private banking faced losses.
Technical indicators showed bearish signals, with Nifty completing a bearish engulfing candle on Thursday. Analysts highlight 25,000 as a key support and 25,340 as a vital resistance level.
FIIs Remain Net Sellers
Foreign institutional investors (FIIs) continued their selling trend, offloading equities worth Rs 3,694 crore on July 17 — marking the second consecutive session of net selling. Domestic institutional investors (DIIs), however, remained net buyers, purchasing Rs 2,820 crore worth of shares for the ninth straight session.
According to Dr. VK Vijayakumar of Geojit Financial Services, FIIs have shown a clear pattern of selling in July after buying in the previous three months. Without positive triggers, the downtrend could persist.
Global Cues Offer Some Relief
Asian markets traded mostly higher on Friday, with Shanghai, Hong Kong, Bangkok, and Jakarta in the green, although Tokyo and Seoul lagged. The US markets ended positively on Thursday, driven by upbeat investor sentiment.
Business
Indian Equity Indices Open Flat As Markets Await Fresh Triggers To Break Out Of Consolidation Phase
Mumbai: The Indian equity indices opened flat on Thursday, as markets looked for new triggers to break out of the consolidation range.
At 9.2 am, c was down 15 points at 82,619 and Nifty was down 2 points at 25,210. Buying was seen in the midcap and smallcap stocks. Nifty midcap 100 index was up 123 points or 0.18 per cent at 59,741 and Nifty smallcap 100 index was up 70 points or 0.37 per cent at 19,210.
On the sectoral front, auto, pharma, FMCG, metal, realty, energy, infra and PSE were major gainers, while IT, PSU bank, financial services and media were major losers.
In the Sensex pack, Sun Pharma, M&M, Trent, Kotak Mahindra, Tata Motors, NTPC, BEL, Titan and Power Grid were major gainers. Tech Mahindra, ICICI Bank, Eternal, Axis Bank, Infosys and HUL were major losers.
According to analysts, an India-US interim trade deal has been discounted by the market, leaving no scope for a sharp rally decisively breaking the range.
“One positive and surprise factor that can trigger a rally is a tariff rate much below 20 per cent, say 15 per cent, which the market has not discounted. So, watch out for developments on the trade and tariff front,” said Dr VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited.
Most Asian stocks traded in a flat-to-low range. Tokyo, Shanghai, Bangkok and Jakarta were trading in the green while Hong Kong and Seoul were in the red.
The US market closed in the green on Wednesday due to positive market sentiment.
On the institutional front, foreign institutional investors (FIIs) continued to reduce exposure in India, selling equities worth Rs 1,858 crore on July 16. In contrast, domestic institutional investors (DIIs) remained consistent buyers for the 8th straight session, infusing Rs 1,223 crore, lending crucial support to the market amid global uncertainties.
The broader trend remains optimistic as long as key support levels are respected, said analysts.
Elon Musk’s Tesla has flagged off its India operations with its first showroom in Mumbai now open. The showroom is located in Mumbai’s premium Bandra Kurla Complex area. It will be showcasing the popular Model Y and Model 3 cars at the venue. Maharashtra CM Devendra Fadnavis arrived at the first Tesla showroom in India, to commemorate the occasion.
The new Mumbai showroom opening marks the entry of Tesla in India, one of the world’s fastest-growing automobile markets. The showroom, at Maker Maxity in BKC, is around 4,000 sq ft large and is said to cost Rs. 35 lakh per month. While customers will be able to book their cars starting today, delivery is said to commence sometime in August. Delivery and registration are only limited to Delhi, Gurugram and Mumbai for now.
The experience centre is located near the Apple flagship store in BKC. Tesla is said to open a showroom isn Delhi as well. While this is a soft launch, the company is expected to do a grand inauguration as well. To book the Model Y or the Model 3, consumers will need to head to the Mumbai experience store.
Musk’s company has imported all the cars fully assembled from China, paying heavy taxes (approximately 70 percent) on the same. The cars are said to be priced starting at around Rs. 40 lakhs in India.
The spotlight will be on the Model Y, which is the most popular variant of Tesla across the world. The SUV is available globally in two variants, Long Range RWD and Long Range AWD (Dual Motor). It claims to offer up to 574 km and goes from 0 to 100 kmph in just 4.6 seconds.
The Model 3, Tesla’s most affordable offering in the Indian market, will also be showcased but is expected to go on sale later in 2025. The top variant of the Model 3 clocks 0 to 100 kmph in 3.1 seconds, has a range of 507 km, and a top speed of 162 kmph.
Tesla India has reportedly leased a 24,500-square-foot space in Mumbai’s Kurla West to set up a service centre, located close to its upcoming showroom in BKC.
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