www.rupeedesk.in
Stocks of major steel companies are seen up next week taking cues from the market, where key share indices are likely to move up after having corrected in the last few sessions. Reserve Bank of India's mid-quarter policy review on Tuesday will also be eyed by the market next week. The central bank is widely expected to lower its benchmark rate by 25 basis points. Performance of Steel Authority of India Ltd would largely depend on the response the company gets to its offer for sale on Mar 20. The government is likely to sell 10.82% stake in SAIL. It currently holds 85.82% stake and after divestment, the shareholding would come down to 75%. Jindal Steel & Power Ltd will be spending 170 bln rupees for capacity expansion in 2013-14 (Apr-Mar), Ravi Uppal, chief executive officer and managing director said yesterday. This is likely to push up share prices of the steel company in the coming sessions.
Stocks of major steel companies are seen up next week taking cues from the market, where key share indices are likely to move up after having corrected in the last few sessions. Reserve Bank of India's mid-quarter policy review on Tuesday will also be eyed by the market next week. The central bank is widely expected to lower its benchmark rate by 25 basis points. Performance of Steel Authority of India Ltd would largely depend on the response the company gets to its offer for sale on Mar 20. The government is likely to sell 10.82% stake in SAIL. It currently holds 85.82% stake and after divestment, the shareholding would come down to 75%. Jindal Steel & Power Ltd will be spending 170 bln rupees for capacity expansion in 2013-14 (Apr-Mar), Ravi Uppal, chief executive officer and managing director said yesterday. This is likely to push up share prices of the steel company in the coming sessions.
