InvestorQ : What justifies the rally in Tata Steel and JSW Steel?
Deepa Salunkhe made post

What justifies the rally in Tata Steel and JSW Steel?

Answer
image
Arya Nanda answered.
8 months ago
Follow

Shares of Tata Steel and JSW Steel rallied over 6% on Friday. In fact, JSW Steel even hit a 52-week high. Most of the steel companies managed to outperform the Sensex on 16 October. This was on the back of news that domestic steel volume off-take had improved in flats.

In September, the domestic steel demand fell by just 6% and that is great news. The recovery in steel demand was largely led by flat steel products. Strong steel demand and prices in China sustaining would be beneficial for steel prices across India.

0 Views