Four steel shares rose by 0.37% to 6.39% on BSE after ArcelorMittal, the world's biggest steelmaker, announced strong Q4 December 2013 results and said earnings will continue to climb in 2014.
Tata Steel (up 6.39%), JSW Steel (up 3.08%), Steel Authority of India (Sail) (up 2.66%) and Jindal Steel & Power (up 0.37%), edged higher.
The S&P BSE Sensex rose 65.82 points, or 0.32% at 20,376.56.
ArcelorMittal said its earnings before interest, taxes, depreciation and amortization (EBITDA) rose to $1.91 billion in Q4 December 2013, from $1.56 billion in Q4 December 2012. The result was announced today, 7 February 2014. The company said earnings will continue to climb in 2014, forecasting full-year EBITDA of about $8 billion.
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