FY19 seen as yet another strong year for steel firms

New Delhi: Steel companies are in the news for strong production numbers. In FY18, JSW Steel posted a 5 per cent increase in production and Tata Steel India (domestic operations) reported its highest ever output at 12.48 million tonnes (mt), an increase of 7 per cent.

Analysts expect to see healthy growth in volumes and profitability in FY19, too. Shares of Tata Steel and JSW Steel are up 7-9 per cent, while Steel Authority of India (SAIL) and Jindal Steel and Power (JSPL) have gained 12-17 per cent from their March-end lows. The confidence not only stems from good volumes but improving ...

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