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Robust sales, price hikes to drive earnings of steel companies
Wed, 14 Apr 2021 00:00:00 GMT
Steel stocks have been in demand in the wake of domestic firms reporting strong sales volume growth during the fourth quarter, indicating continuing steel demand momentum. The recent price hikes by steel manufacturers have also come on the back of the firm demand. Thus, with rising volumes and improving realizations, Indian manufacturers are set to report improved earnings. Share prices of Tata Steel Ltd, JSW Steel Ltd, Jindal Steel and Power Ltd (JSPL) and Steel Authority of India Ltd

Metal Stocks Rally Amid Jump In Commodity Prices
Tue, 13 Apr 2021 00:00:00 GMT
Metal stocks today: Steel Authority of India or SAIL gained more than six per cent, while Jindal Steel gained more than five per cent, in the session

Big traders ramp up derivative bets on SAIL
Sat, 10 Apr 2021 00:00:00 GMT
Analysts attribute the elevated trading interest to an ongoing rally in metal prices and SAIL trading at relatively cheaper valuations to peers such as Tata Steel and JSW Steel which are near and at record highs,

Steel prices expected to marginally move up from current levels
Fri, 09 Apr 2021 00:00:00 GMT
The steel stocks have been rallying for the past few months. Many thought that the rally was done and the steel prices would not rise as they had risen over the past few months, but prices have moved up even more. Vikash Singh, VP-Metals and Mining at Philip Capital said, If we look at the Indian steel prices, they are still at a fair discount to the imported prices. So, the prices should either stay consistent at this level or there is a slight possibility of prices going up marginally

Liberty Steel's Romanian subsidiary needs EUR 100 mln to buy ...
Wed, 07 Apr 2021 10:00:00 GMT
Liberty Galati, the Romanian subsidiary of Liberty Steel - part of GFG Alliance controlled by Indian businessman Sanjeev Gupta - urgently needs EUR 100 million to purchase the CO2 certificates that it sold last

Global prices to prop domestic steel despite near-term demand ...
Tue, 06 Apr 2021 00:00:00 GMT
Indias steel consumption growth is expected to moderate sequentially in the near term due to a surge in the number of new Covid cases in March 2021 and increasing mobility restrictions. However, the extent of moderation is too early to estimate, given that vaccination drive is ongoing and the fact that the lockdowns being announced are not as severe as witnessed in Q1 FY2021, said ratings agency Icra today. Despite the possibility of demand moderation, Icra expects domestic steel prices to

Stocks to watch: Tata Motors, RIL, Adani Enterprises, Britannia ...
Mon, 05 Apr 2021 00:00:00 GMT
MCL, a subsidiary of Coal India Ltd, on Friday said it has posted a record production of148.01 million tonne and achieved the highest-ever dispatch

SAIL hits over 2-yr high on clocking best quarterly production ...
Mon, 05 Apr 2021 00:00:00 GMT
Aided by a healthy Q4FY21 performance, SAIL reported its best-ever annual sales volume during the financial year 2020-21

JSW Steel hits new high on hope of strong recovery in operating ...
Fri, 02 Apr 2021 00:00:00 GMT
Shares of JSW Steel, on Thursday, rose 5 per cent and hit a new high of Rs 490.95 on the BSE in intra-day trade after credit ratings agency Moodys Investors Service changed the outlook on all ratings of the companys instruments to stable from negative, led by strong recovery in operating performance. Moodys, on Wednesday, has affirmed the JSW Steels Ba2 corporate family rating (CFR) and the Ba2 rating on the senior unsecured notes issued by the steel major. The rating agency also

SAIL reduces debt by Rs 16,150 crore during Q4 of FY 21, production ...
Fri, 02 Apr 2021 00:00:00 GMT
The company adopted a focussed approach on improving its volumes, improving operational efficiencies, operating the facilities at optimum levels, deleveraging its balance sheet and reducing its inventory levels, Sail chairman Soma Mondal said in a statement, adding that the multi-pronged strategy helped the company top its

SAIL clocks best quarterly sales at 4.27 MT during Jan-Mar qtr
Fri, 02 Apr 2021 00:00:00 GMT
Steel Authority of India Ltd (SAIL) clocked its best-ever quarterly sales at 4.27 million tonnes (MT) during the March quarter of the last fiscal year, up 14 per cent over the year-ago

JSW Steel commences production of hot-rolled plates from Dolvi ...
Thu, 01 Apr 2021 00:00:00 GMT
JSW Steel has commenced production of Hot-rolled plates from the new 5 million tonne per annum hot strip mill facility at its Dolvi Works, the company said in a BSE

Number of South Asian industry news reports: 12
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