 "steel")
Steel stocks have outperformed in recent trading days on the back of upbeat production & sales in FY24 and hopes of economic rebound in China.
Tata Steel reported a record-breaking 20.5 million tonnes of steel production in FY24. SAIL too posted 5 per cent growth in crude steel production at 19.2 million tonne for the financial year ended March 2024. SAIL also achieved its highest-ever sales volume of 17.1 MT for the year.
Meanwhile, China's manufacturing activity expanded in March after five consecutive months of contraction raising hopes of a recovery in the world's second largest economy.
The
