Equity benchmark BSE Sensex rallied over 290 points to hit its lifetime high of 40000 in morning trade on Tuesday led by gains in information technology (IT),metal , amid positive cues from global equities and sustained foreign fund inflow.After surging 330 points, the 30-share index was trading 290.8 points or 0.71 per cent to 41,231 at 1045 hours. Similarly, the broader Nifty inched closer to its record peak of 12,158.80. It was trading 78.15 points or 0.65 per cent higher at 12,132.10.Tata Steel was the top gainer in the Sensex pack rising up to 3.24 per cent, followed by Vedanta, Infosys, Yes Bank, TCS, Maruti and Axis Bank and many more. The brokerage says the real estate company with its strong execution track record, healthy balance sheet (net debt of Rs 11 billion as of December 2019) and counter-cyclical business development strategy .
Experts say pandemic may take a toll on domestic steel players’ expansion plans
The outbreak and spread of the COVID-19 pandemic may adversely impact the expansion plans of domestic steel makers, according to experts. Indian players had been working on expansion plans in line with the government’s ambitious target of scaling up the total steel making capacity to 300 million tonne per annum (MTPA) by 2030.