Tata Steel, JSW Steel are key beneficiaries of the rise in steel demand

摘要

Tata Steel and JSW Steel are up 4-6 per cent in the last three trading sessions on improving realisations, expectations of higher demand and upgrades by rating agencies. Moody’s Investor Service has changed JSW's outlook to positive; Tata Steel’s corporate family moved a notch up (Ba2 from Ba3). There are more reasons for investors to cheer. Reports indicate that domestic steel prices are going up for a second time in February. Major hot rolled coil steel producers have taken a price hike of Rs 500-Rs 1,000 per tonne after the Rs 750-Rs 1,000 per tonne rise at the beginning of the month. These price hikes in the domestic market arena are coming after a gap of three to four months and should lift investor sentiment.