et_companiesabout 4 hours ago
BEARISH(90%)
sell
Published on the original source: 1 Apr 2026, 2:52 PM IST
India does not plan to revive offshore mining auction in near term, sources say
Read original sourceAI Analysis
The auto sector's performance is influenced by commodity costs. A delay in domestic critical mineral sourcing means continued reliance on existing supply chains, potentially impacting input costs.
Trading Insight
Focus on auto companies with strong pricing power and diversified supply chains to mitigate commodity price volatility.
Quick check: MARUTI bearish bias (-1.3% 1d), TATAMOTORS bearish bias (-1.4% 1d).
Key Evidence
- •India has shelved plans for deep-sea mining auctions.
- •Reasons cited include lack of technological readiness and anticipated low bidder interest.
- •The initial auction for critical mineral blocks, valued over 1.5 trillion rupees, was annulled due to poor response.
- •Companies find the venture economically unfeasible, with domestic miners unprepared for substantial investments and specialized technology.
- •Risk flag: Continued volatility in global commodity prices.
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