Bhushan Steel likely to hike Steel prices by 5% from September: Report

Tata Steel BSL Ltd. | Steel & Iron Products | Metals & Mining | BSE: 500055 | NSE: TATASTLBSL

23 Aug 2013 Evaluate

Bhushan Steel, reportedly is likely to hike steel prices by 5% from September 2013. The Steel price hike would be in the range of Rs 1500 to 2000 per tonne. The fall of profit may be the one reason of this price hike. The company has reported 62.98% fall in its net profit at Rs 76.26 crore for the first quarter ended June 30, 2013 as compared to Rs 205.97 crore for the same quarter in the previous year.

Bhushan Steel, formerly known as Bhushan Steel & Strips, is one of the leading players in the steel industry with steel making capacity of 2.2 Million Tonnes Per Annum (MTPA).

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