Steel industry's operating profits to contract 45-50% in FY23: ICRA
Indian steel companies face a bumpy road ahead as the external environment becomes more challenging due to elevated inflation, energy prices and rising interest rates.
Indian steel companies face a bumpy road ahead as the external environment becomes more challenging due to elevated inflation, energy prices and rising interest rates.
Shares of Tata Steel rose nearly 3% in opening deals after its board proposed a 10-for-1 split of the steel major’s equity stocks.
This multibagger stock has rallied 79% over the past one year, surging from its 52-week low of ₹297.25 on March 25, 2021, to ₹532.50 in intraday trade today.
Tata Steel to spend ₹11,000 crore; sees European business cash-positive this year.