Mehra, director of Essar Group, said that as far as the bill removes uncertainty and makes the land acquisition job easier, it will give much relief to the companies in the metal and mining space and will also attract investments.
The steel sector is under tremendous pressure amid concerns over a possible decline in steel prices and demand. Companies like Tata Steel, SAIL and JSW Steel are bound to face some pressure on their margins given that raw material prices remain high.
In an interview with CNBC-TV18, Prasad Baji, Senior VP - Institutional Equities, Research, Edelweiss Securities Limited and J Mehra, Director of Essar Group and CEO, Essar Steel Holdings, speak about the announcements made for the metal sector in the budget.