Steel stocks rally on possible price hike, SAIL tops with 4.6% spike
Frontline steel stocks rallied on Monday on the possibility of a price hike and rebound in Chinese steel futures.
Stocks of all major steel producers surged with Steel Authority of India Ltd (SAIL) leading the pack. The stock appreciated 4.63 per cent on the Bombay Stock Exchange (BSE) and closed at Rs 126.55. JSW Steel closed at Rs 710.55, Jindal Steel & Power (JSPL) at Rs 407.25 and Tata Steel 1125.65.
Steel companies are understood to be mulling an increase in prices over the next few days. Moreover,…
