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Rashtriya Ispat Nigam hikes steel prices by Rs 500 per tonne

05 Dec 2012 Evaluate

In view to align the domestic price with landed import, State-run Rashtriya Ispat Nigam has hiked steel prices by Rs 500 per tonne from December 1. The company, registering a growth of 5 per cent, achieved sales turnover of Rs 1,085 crore in November and registered 13% growth in by-product’s sales of Rs 364 crore. The thrust was on achieving higher sales through its rural network, resulting in 59 per cent growth in rural sales during the month.

Rashtriya Ispat Nigam (RINL), also known as Vizag Steel, is an Indian government-owned steel producer. Based in Visakhapatnam, RINL has been awarded the Navaratna status, with accompanying autonomy of operations, due to its strong financial performance.