SAIL, Vedanta jump up to 7% on rise in steel demand, improved FY21 outlook

Among individual stocks, SAIL soared 6.7 per cent to Rs 29.10 on the NSE, followed by gains in Vedanta, Jindal Steel, and Tata Steel.

Shares of steel stocks including Steel Authority of India Ltd (SAIL), Jindal Steel and Vedanta, jumped as much as 7 per cent on the National Stock Exchange (NSE) on Tuesday after India turned net exporter of steel on a year-on-year basis for the period between April, 2019 and February, 2020.

Among individual stocks, SAIL soared 6.7 per cent to Rs 29.10 on the NSE, followed by gains in Vedanta (6.4 per cent), Jindal Steel (6.3 per cent), Tata Steel (6.2), National Aluminium Company (5 per cent), and Hindalco (4.4 per cent). Besides, NMDC, JSW Steel, Hindustan Copper, Moil, and Hindustan