Business Standard

Metal shares extend gain on demand recovery; Jindal Steel, Tata Steel up 4%

In the past one week, Nifty Metal index has outpaced the market by surging 8 per cent, as against 0.28 per cent gain in the Nifty50 index

steel, iron, metal, manufacturing, production, molten
Premium

As countries across the world started coming out of lockdowns, demand saw an improvement

SI Reporter Mumbai
Shares of metal companies were trading higher at the bourses on Wednesday on expectation of higher demand due to recovery in global economic activity, and China's infrastructure spend. That apart, domestic steel demand improved notably in July-September quarter (Q2FY21) compared to April-June quarter (Q1FY21) with the opening up of the economy. This has aided capacity utilisation of domestic steel players.

Individually, Jindal Steel and Power and Tata Steel were up 4 per cent, while Hindalco, Vedanta, Steel Authority of India (SAIL), NMDC, Coal India and JSW Steel were up in the range of 2 per cent to 3 per cent on

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Oct 21 2020 | 1:04 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com