Steel stocks gain on encouraging sales figures for December quarter

In the past three months, JSPL has rallied 79%, as compared to a 9% rise in the S&P BSE Sensex.

Shares of steel companies were trading actively on Thursday, and gained up to 5 per cent on the BSE after Jindal Steel & Power Limited (JSPL) recorded the highest ever quarterly domestic production and sales in the quarter-ended December 2019 (Q3FY20).

Steel Authority of India (SAIL), JSPL, JSW Steel and Tata Steel from the metal index were up in the range of 2 to 5 per cent on the BSE. In comparison, the S&P BSE Sensex was up 0.33 per cent, while the sector index S&P BSE Metal added 1.2 per cent at 09:44 am.

Individually, JSPL surged 4 per