Receding concerns bring back spotlight on steel players

The Tata Steel stock on Friday last week was among the top gainers with a 6 per cent jump. The rally in the stock not only signals the end of weak fundamentals for the company but it is also possibly a precursor to the better days that awaits the steel sector. Sales volumes published by steel players, favourable news flow from China, particularly near-term concerns on slowdown receding, and the resultant comfort it brings to the Indian market as the risks of cheap imports from China is diminishing reflect positively on Indian steelmakers.