www.rupeedesk.in
Stocks of major steel companies are seen rangebound next week in the absence of fresh triggers on the fundamental side. However, investors will closely eye Tata Steel Europe's production for cues on demand-supply scenario in the region
Tata Steel will detail its Jul-Sep earnings on Tuesday. Tata Steel, the world's eighth-largest steelmaker by output, acquired Anglo-Dutch steelmaker Corus in 2007 and renamed it Tata Steel Europe. The company's European operations account for two-thirds of Tata Steel's total production capacity. Tata Steel Europe has been posting a fall in earnings over the past few quarters, as the Eurozone financial crisis has hit industrial output and dried up demand. Nothing much has changed in the steel sector in the last few weeks. The outlook for steel sector continues to remain lacklustre in coming sessions.
