News Snapshot:
Strong domestic demand, along with healthy exports, aided the steel industry’s production and sales growth in the fourth quarter of 2020-21 on a sequential basis, said analysts. Revenues of steel companies are expected to improve 20% quarter-on-quarter and 45-50% from a year ago on higher realization and rising demand, led by a recovery in capital expenditure of states, auto production, white goods production and real estate construction. “Steel companies are expected to post a whopping 45-50% y-o-y increase in revenue, led by rising realizations (27% y-o-y increase) and healthy demand in the fourth quarter of fiscal 2021 on the low...
