JSW Steel is likely to post an around 55% decline in Q4 profit on flattish volumes and realisation.
Iron ore miner Sesa Goa's fourth quarter performance will almost be a non event as its operations in Karnataka and Goa remained shut due to the ongoing mining ban.
Sesa Goa expects the Supreme Court to lift mining ban in Karnataka by June-July this year. The company‘s iron ore production declined 27% to 13.80 million tonnes (MT) in FY12 due to this mining ban. The SC had banned mining in Karnataka last year due to environmental concerns
Speaking to CNBC-TV18, RK Goyal, the managing director of Kalyani Steel says that even post the Supreme Court order revoking the ban on mining in Karnataka, it might take a good three-five months before iron ore is actually made available.
RK Goyal, managing director of Kalyani Steel joins CNBC-TV18 to give an insider’s view on the auction that happened yesterday.