An increase in steel offtake in the fourth quarter has seen Steel Authority of India Ltd (SAIL) report notable revenue growth of 8.6% year-on-year. SAIL’s stock dipped 1% on Friday after its results were announced post-market hours on Thursday. Saleable steel sales totalled 4.133 million tonnes (mt) in the March quarter, increasing 10% over the same period last year. Much depends on how iron prices pan out in the international markets. But as iron ore supply disruption is likely to be persistent, investors will have to watch steel prices a lot closely, too.

Source: Mint June 02, 2019 16:41 UTC