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Investors exercise caution on steel stocks on rising input costs


Investors exercise caution on steel stocks on rising input costs
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Prices of hot-rolled coil in India retreated after 19 weeks of a sustained uptick, primarily because the government had voiced concerns. (File Photo: Reuters)
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MUMBAI: A strong demand and improving realisations notwithstanding, investors have been turning cautious on steel stocks, largely because rising cost of key raw material such as iron ore and coal have led to concerns on profit margins of steel manufacturers. Tata Steel Ltd, JSW Steel Ltd, Steel Authority of India Ltd, and Jindal Steel and Power Ltd - all saw some corrections on Monday. ....

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