Tata Steel, the world's sixth-largest steelmaker, expects sales from its Indian operations to improve on continuing demand from the construction sector, its managing director said on Friday.
'We expect February sales to be 10-15 percent over January. Auto and household sectors are not doing well, but construction demand is not bad,' B. Muthuraman told reporters.
Tata Steel posted a 26 percent rise in steel sales on year in January from its Indian operations. Muthuraman said there was no plan for any fresh acquisitions in the near term. 'We have not decided on any other acquisition. Raw material acquisition is important, but we will wait for acquisitions in Canada, South Africa and Mozambique to fructify in next one-two years.'
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