<b>Weekly Mkt Review</b>: Steel stocks in demand

 State-run steel major Steel Authority of India Ltd (SAIL) surged 15% last week to close an all-time high level of Rs 111.70. The trigger came from the steel minister's statement about massive expansion at the company.

 Steel minister Ram Vilas Paswan said SAIL will invest Rs 1,00,000 crore on raising its capacity from 14.6 million tonne to 40 million tonnesby 2020.
SAIL achieved record production of 3.318 million tonne of saleable steel and the highest-ever sale of 3.014 million tonne in December 2006 quarter.

 The company registered 6 per cent growth in saleable steel production and an 8 per cent increase in sales in December 2006 quarter compared with the same period last year. Last month, SAIL said it has been exploring several opportunities for acquisition of ownership interest in coal mines abroad for establishing long-term security in supplies of coking coal. The company is also on the hunt for coal properties to reduce its dependence on imported coal.

 Pyramid Saimira: Perfect match

 Pyramid Saimira Theatre has tied up with B&B Infrastructure for setting up 15 multiplexes in Karnataka and with Kalyana Malai, Matrimonial Pvt.Ltd to set up marriage bureaus at Pyramid's locations across India.

 The stock moved up 56% last week on the news with average daily turnover increased five-fold to 1.29 crore shares. The stock moved up from Rs 190.15 on January 19 to Rs 296 on Thursday, January 25. The company went public in December 2006 at an offer price of Rs 100 a share. The shares were listed in January at Rs 158.19 and have appreciated by around 100% in less than a month.