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Steel firms set to shine in New Year

Analysts expect China's steel output cuts to result in stronger earnings for Indian manufacturers in the next 2-3 quarters

Steel Sector
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The onset of winter and consequent moves by China to cut its steel production signals good news for global steel producers, including the Indian ferrous industry. Already, domestic steel companies have seen a decent improvement in their operating performance in the September quarter (Q2) despite disruptions in the business climate. Their share prices, too, have clocked strong gains of 30-40 per cent in the past six months, led by improving prospects from the troughs. But, despite these gains, analysts believe there is more upside for many steel companies, given the further improvement ...