Steel stocks in focus; SAIL, Tata Steel, JSL gain up to 5%

Higher export orders and lower raw material prices are likely to support the profitability margins of players during FY22

Shares of steel manufacture were in focus on Wednesday with Tata Steel, Steel Authority of India (SAIL) and Jindal Stainless Ltd ralling between 4 per cent and 5 per cent on the BSE in the intra-day trade on expectations that higher export orders and lower raw material prices are likely to support the profitability margins of players during the current financial year 2021-22 (FY22) who are witnessing month-on-month (M-o-M) volatility in domestic demand owing to the pandemic-led restrictions/lockdown.

JSW Steel, Jindal Steel and Power (JSPL), Tata Steel Long Products, Tata Steel BSL and Jindal Stainless (Hisar) were up in