Steel firms look to govt infra push, rate cut to hike demand

摘要

The domestic steel industry, now reeling under a severe sluggish demand, is betting big on the government's infrastructure push and the expectedeasing of monetary policy by RBI as it goes past 2012, considered:by manufacturers as "pretty tough". Despite good sales, bottom-line for most of the steel firms got impacted in January-March quarter on costlier raw material and rupee depreciation. The weak rupee deepened woes for almost all of them during April-June quarter. The US dollar-rupee exchange rate, which was 44.70 in June 2011, touched record low of .57.32 off June-end this year."