These are not good times for steel stocks. Riding on the back of an upturn in global and domestic steel demand and hence steel prices for the better part of the past three years, the tide is apparently turning for steel companies. And the markets as usual have been quick to pounce on steel stocks, giving them the cold shoulder, while rewarding most others. Compared to a near 47 per cent rise in the Sensex in the past year, leading steel stock returns pale in comparison. The Tata Steel stock has appreciated by 10 per cent during the period, while that of SAIL (Steel Authority of India) has actually declined by 3.38 per cent. Other steel stocks are not doing any better.
展开▼
