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Steel stocks tumble as Ind-Ra revises outlook to negative for FY21

Steel Authority Of India Ltd. | Steel & Iron Products | Metals & Mining | BSE: 500113 | NSE: SAIL

28 Feb 2020 Evaluate

Most of the steel sector stocks were trading under pressure after India Ratings and Research (Ind-Ra) in its latest report revised its outlook on the steel sector from 'stable-to-negative' to 'negative' for the next financial year (FY21), given the modest steel demand growth expectations of 5 percent and margin pressures led by iron ore price risks.

Steel Authority of India is currently trading at Rs. 35.30, down by 2.60 points or 6.86% from its previous closing of Rs. 37.90 on the BSE. The scrip opened at Rs. 35.35 and has touched a high and low of Rs. 36.70 and Rs. 34.95 respectively.

JSW Steel is currently trading at Rs. 237.95, down by 14.10 points or 5.59% from its previous closing of Rs. 252.05 on the BSE. The scrip opened at Rs. 247.00 and has touched a high and low of Rs. 247.00 and Rs. 235.10 respectively.

Tata Steel is currently trading at Rs. 382.15, down by 30.65 points or 7.42% from its previous closing of Rs. 412.80 on the BSE. The scrip opened at Rs. 401.90 and has touched a high and low of Rs. 401.90 and Rs. 373.45 respectively.

Ind-Ra also expects steel demand growth to remain modest, in line with gross factor capital formation of 5.3 per cent in FY21. It also said the Chinese steel demand growth risks amid increased ramifications from the corona virus outbreak could also impact global and domestic steel prices. However, it said some benefits are also expected on softer imported coking coal and international iron ore prices. It added that global steel prices may come at risk, if Chinese steel producers could not reduce production growth in FY21 in line with the reducing demand in housing construction and the slowing Chinese economic growth.

The agency further expects the overall steel margins to remain modest in FY 2020-21, with slight improvements after the industry witnessed EBITDA margins dropping. However, it expects the margins to bottom out in Q4FY20. It also believed that in case the steel demand does not strengthen up by 2HFY21 (second half of FY 2020-22) new capacity additions along with stressed asset ramp-up could put further pressure on the prices and plant capacity utilisation rates.

SAIL Share Price

173.50 1.95 (1.14%)

17-Apr-2026 16:59 View Price Chart

Peers

Company Name	CMP
Tata Steel	212.05
JSW Steel	1239.90
SAIL	173.50
Jindal Stainless	787.90
APL Apollo Tubes	2105.45
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Steel stocks tumble as Ind-Ra revises outlook to negative for FY21

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