Robust spending on infrastructure pushed up steel prices, benefitting steelmakers in India. The demand helped Tata Steel clock ‘best-ever 3Q’ sales with domestic deliveries of 4.88 MT.
The company's ‘Automotive & Special Products’ segment deliveries recorded an increase of around 8% QoQ driven by best-ever sales for the third quarter despite a marginal decline in vehicle production
On the back of muted domestic demand and weak performance of its global subsidiary, Tata Steel is likely to post a consolidated net loss in December quarter, say analysts.
Late buying powered the Nifty past the 5,400 barrier and Sensex added 120 points. Thanks to Greece, global markets too are on a rally now.