As China worries bite, which steel stock should you bet on?
China concerns are likely to impact steel sector and Indian players will have an opportunity for higher exports. Steel prices are likely to remain elevated based on higher coking coal prices
September 28, 2021 / 09:39 AM IST
JSW Steel | Life Insurance Corporation of India bought 7.17 lakh equity shares (0.03 percent) via open market transaction on August 3, increasing stake to 5 percent from 4.97 percent.
PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook
China is, undoubtedly, the largest steel market in the world, and with issues revolving around real-estate developers in the country -- Evergrande, in particular -- the impact on the global steel market from a medium-term perspective is worth exploring.
Evergrande is among the top three property developers facing liquidity crunch.
In lieu of its inability to service interest and debt obligations, to boost investor confidence, the People’s Bank of China injected $18.55 billion, making it one of the largest fund infusions...