Steel demand likely to be 75 MT in FY13: Tata Steel

Tata Steel on Thursday said the total demand for steel in the current fiscal is likely to grow by 5.5 percent to around 75 million tonnes.
  • Language
  • App
  • Subscriptions
  • Specials
  • Sign-In
  • Register
GeStepAhead master your money Realasset
moneycontrol.com

Home » News » Business

Dec 28, 2012, 08.23 AM | Source: PTI

Steel demand likely to be 75 MT in FY13: Tata Steel

Tata Steel on Thursday said the total demand for steel in the current fiscal is likely to grow by 5.5 percent to around 75 million tonnes.

Like this story, share it with millions of investors on M3

Steel demand likely to be 75 MT in FY13: Tata Steel

Tata Steel on Thursday said the total demand for steel in the current fiscal is likely to grow by 5.5 percent to around 75 million tonnes.

Post Your Comments

Share Cancel

HM Nerurkar , MD, Tata Steel
Tata Steel on Thursday said the total demand for steel in the current fiscal is likely to grow by 5.5 percent to around 75 million tonnes. The demand growth rate may be better next fiscal at around 7 percent bouyed by economic growth fuelled by reforms announced by the government, company managing director HM Nerurkar said in a statement.

"In the fiscal 2012-2013, growth in domestic steel demand is expected to be around five and a half per cent. Total demand is expected to be around 75 million tonnes, up from 71 million tonnes in 2011-2012," Nerurkar said. "In 2013-14, demand is expected to be higher at around 7 percent. Reforms announced by the government will provide a fillip to growth in the economy," he added.

The company expects a modest two-and-a-half percent growth in Europe next fiscal. Europe is slated to register a negative growth this year. Nerurkar said the formation of the Cabinet Committee on Investment for single-window clearance for mega projects would generate activity in the power and roadways sectors, among others.

"The expected lowering of interest rates by RBI in January will provide impetus to the manufacturing and consumer durables sectors, among others. The full impact of all these will be felt in 2013-14," he said.

The Tata Steel managing director said with the ongoing greenfield and brownfield expansions, India is expected to become the world's second largest producer of crude steel in the next two years.

Tata Steel stock price

On May 31, 2016, Tata Steel closed at Rs 334.45, up Rs 11.35, or 3.51 percent. The 52-week high of the share was Rs 364.15 and the 52-week low was Rs 200.00.


The company's trailing 12-month (TTM) EPS was at Rs 50.46 per share as per the quarter ended March 2016. The stock's price-to-earnings (P/E) ratio was 6.63. The latest book value of the company is Rs 736.86 per share. At current value, the price-to-book value of the company is 0.45.

Ads by Google

Buy, Hold, Sell ? Hear it first on M3
Steel demand likely to be 75 MT in FY13: Tata Steel

See all

Get started using your favorite social network

or

Login using moneycontrol ID

Username
Password

Need help logging in? Reset password.

Don´t have an account? Sign Up

Get started using your favorite social network

or

Simply sign up using this short form

* mandatory

UserName*

Username should be atleast 4 character

Password*

Password should be 8 or more characters,
atleast 1 number, 1 symbol & 1 upper case letter

Alert

Your Password should contain
  • 8 or more characters
  • At least 1 number
  • At least 1 symbol
  • At least 1 upper case letter
Confirm Password*
Email
Already have an account? Login