Steel demand surge to persist, poised for 10% growth: Steel Secy

Jindal Stainless Fuels Vande Metro

Jindal Stainless Ltd has made headlines by supplying high-strength stainless steel for the Vande Metro trains, set to launch in July. The company's shares surged 4.63%, closing at ?711.40 on the BSE, raising its market cap to ?58,579 crore. The 201LN stainless steel used in the train coaches is lightweight, energy-efficient, and highly durable, ensuring enhanced safety and corrosion resistance. This development marks a significant contribution to India's railway sector, promising improved passenger experience on shorter routes up to 250 km.

The Vande Metro trains, designed for short-di..

Q4 profit: Jindal Stainless reports a 34.6% fall

On account of lower steel prices and weak international demand, India's Jindal Stainless reported a 34.6% fall in fourth-quarter profit.

The country's biggest stainless steel maker by volumes posted a consolidated net profit of $60 million for the quarter end. Despite robust demand for steel from the construction and automotive sectors of one of the world's fastest-growing economies, manufacturers have been grappling with the impact of declining steel prices.

At the conclusion of the quarter, the nation's largest producer of stainless steel by volume reported a combined net..

India's Steel Demand Growth Outlook Strong

India's steel industry is experiencing a significant boom, with demand expected to continue growing at a steady rate of 10% over the next few years. This growth trajectory is underpinned by several key factors, including robust infrastructure development, ongoing construction projects, a thriving automotive sector, and increased manufacturing activities driven by economic development initiatives.

The Indian government's focus on infrastructure development, including the ambitious National Infrastructure Pipeline (NIP) project, is a major driver of steel demand. The NIP aims to invest b..