SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Essar Steel ups steel prices by Rs 1,200-1,500 a tonne on sharp rupee depreciation

03 Sep 2013 Evaluate

In a bid to pass the increased cost of raw materials to buyers, on account of sharp depreciation of rupee, Essar Steel has upped prices of steel by Rs 1,200-1,500 a tonne, compared with the hike of Rs 1,000-1,200 a tonne in August. However, with this development, other steel companies too are expected to raise their steel prices, since these companies have to shell out more for importing coking coal, crucial raw material for making steel. The hike could also in the backdrop of higher prices of imported steel which has also been caused by the weaker rupee.

Besides, JSW Steel, too earlier reported that it was planning to raise the prices of steel by 5%, beginning September 1, 2013. With its coal import bill going up by nearly Rs 1,500 crore, the company has no choice but to raise prices anywhere between 4% and 6%.

Essar Steel, the group’s flagship company of Essar Group, which is a global corporation with investments in the sectors of steel, energy (oil & gas and power), infrastructure (ports, projects & concessions) and services (shipping, telecom, realty and outsourcing and technology solutions).

About MoneyWorks4Me

MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

Our Vision

To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.

What Makes MoneyWorks4Me Different

Our Approach: Ensuring compounding work its magic on client portfolio.

MoneyWorks4Me ensures this through: