Tata Steel, JSW Steel, SAIL shares gain more than 1%. Softening of steel price, rising input costs still a concern.
Stock Market Today- The firm steel demand in the country supported by government Infrastructure spending though is supporting sentiments, Softening of steel prices and higher coal and iron-ore prices still a concern on near term profitability.
Tata Steel Ltd, JSW Steel Ltd, Steel Authority of India Ltd saw their stock prices rise more than 1% in morning trades on Wednesday. Jindal Steel and Power Ltd stock prices, however, remained muted. The analysts say that while steel demand in the country remains strong being supported by governments infrastructure spending and is supporting the investor confidence, nevertheless softening steel prices impacted by festive season and rising raw material prices are key risks to near term earning prospects.
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