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Despite a few positives, analysts cautious on stocks of steel companies

Weak realisations, rising imports, and inventories may weigh on earnings of steelmakers

Ujjval Jauhari  |  New Delhi 

Stocks of steelmakers such as Tata Steel, JSW Steel, Steel Authority of India (SAIL), and Jindal Steel & Power (JSPL), which have been major laggards on the bourses in the past one year, clocked gains of 1.4-2.1 per cent on Monday. The trigger came from some positive news flow on US-China trade talks.

Concerns over international demand growth and realisations on the back of the trade war are among key concerns for underperformance of domestic steel stocks, which are down 40-50 per cent since October last year versus a 12 per cent rise in the BSE Sensex. Global worries apart, a ...

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First Published: Mon, October 14 2019. 23:30 IST
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