The Hindu Business Line : Steel majors gain on re-rating talk

Talk of a favourable re-rating of steel stocks on the cards has seen counters of steel majors Tata Steel and SAIL gain ground on the bourses. While the Tata Steel stock has appreciated by almost 19 per cent, SAIL has seen a 26 per cent jump week-on-week.

Analysts said that with the price scenario buoyant and good demand, companies can expect to see 40-50 per cent jump in earnings. On Monday, the Tata Steel counter closed at Rs 561.30, up 4.28 per cent, on the BSE, while SAIL ended the day at Rs 84.75, up 2.48 per cent.

Deeptha Rajkumar

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