Nifty Metal was the only sectoral index that settled in green while others sectors ended in the red in Friday's trading session.
Both JSW Steel and SAIL would import Mongolian coking coal either via Russia or China, said the sources
The companies are considering the use of hydrogen and biochar at SAIL's plants while also building local research and development
NTPC-SAIL Power Company is a joint venture between power generation company NTPC and steel maker SAIL
China is the largest consumer of metals in the world, and the market is betting that a reduction in interest rates will spur economic activity in the nation, particularly in infrastructure and housing
According to Kotak, increasing prices of coking coal, an important fuel component of the steel-making process, poses a risk to the company’s business
Cautious stance on ferrous space, given the slowdown in developed world and higher production from China
Investors should watch for recovery in volumes, steel prices
Investors looking at SAIL need to watch out for coking coal prices and China’s action, post Olympics
Investors tracking SAIL need to watch out for steel price and sustainability of demand
The timing is right for selling Sail’s shares to meet the divestment target, but is a piecemeal approach the best way?
Lower capacity utilization and lower prices pose a double whammy for SAIL
Overall, the short-term outlook for the index remains week and the Nifty is likely to test 10,440 levels on the lower side next week if it fails to hold above 10,500.
Addressing the 45th annual general meeting of the state-owned Steel Authority of India Limited (SAIL) here, Chairman P K Singh said the domestic steel demand is improving on the back of government policies and developmental goals, and SAIL is expeditiously equipping itself to serve market requirements fully and claim a broader market share.
The Prime Minister‘s Office (PMO) last week convened a meeting of the public sector undertakings (PSU) heads to set aside capex for FY14.
The government has garnered Rs 1,516.17 crore from selling its 5.82 per cent stake through the offer for sale (OFS) route in Steel Authority of India (SAIL) on March 22.
At IILF they believe that at the floor price of Rs 63, all the negative for SAIL have been priced in. “We are recommending our clients to invest at the floor price,†said Tarang Bhanushali, in an interview to CNBC-TV18.
Steel Authority of India (SAIL) may slip to Rs 81-82, says Sudarshan Sukhani of s2analytics.com.