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Business & Finance

India's SAIL head says no fluctuation in steel prices

NEW DELHI: State-run Steel Authority of India Ltd does not expect "wild fluctuations" in steel prices in the near fut

Published April 29, 2011 Updated April 29, 2011 03:24pm

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By Muhammad Iqbal

steel

NEW DELHI: State-run Steel Authority of India Ltd does not expect "wild fluctuations" in steel prices in the near future, its chairman said, C.S. Verma added that demand for steel products in India was likely to continue to rise.

A weaker-than-expected market has forced many Asian steel mills to put off price hikes to account for rise in input costs in the first quarter of 2011, leading them to report lower profits.

Earlier on Friday, SAIL reported a 28 percent fall in its March-quarter net profit, hurt by rising input costs.

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Currency	Rate
USD PKR Interbank Selling / Oct 9	277.20
USD PKR Interbank Buying / Oct 9	277
USD to Japanese Yen / Oct 9	158.31
USD to Swiss Franc / Oct 9	0.83
Pound Sterling to USD / Oct 9	1.32
Euro to USD / Oct 9	1.12
SOFR % / Oct 8	3.87

Stock	Volume
S&P 500 / Oct 9	7,811.54
India Sensex / Oct 9	72,472.33
Tokyo Nikkei / Oct 9	69,030.92
Nasdaq / Oct 9	27,366.17
Hang Seng / Oct 9	24,211.35
FTSE 100 / Oct 9	10,552.05
Dow Jones / Oct 9	51,654.95
Germany DAX 30 / Oct 9	25,087.27
France CAC40 / Oct 9	7,803.33

Item	Value
Crude Oil USD/Barrel / Oct 9	91.85
Karachi Cotton PKR/37.32 KG / Oct 9	18,680
Gold 10 Grams PKR / Oct 9	378,031
Gold Spot USD/Ounce / Oct 9	4,194.24
Cotton US¢/pound / Oct 9	80.54
Petrol/Litre / Oct 10	398.30
Diesel/Litre / Oct 10	396.24

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Stock	Price
Unicap Modaraba / Oct 9 Unicap Modaraba(UCAPM)	6.98 ▲ 1 (16.72%)
ARM Green Industries / Oct 9 ARM Green Industries Limited(ARMG)	55.19 ▲ 5.02 (10.01%)
B. F. Modaraba / Oct 9 B.F. Modaraba(BFMOD)	21.43 ▲ 1.95 (10.01%)
Sitara Peroxide / Oct 9 Sitara Peroxide Limited(SPL)	50.89 ▲ 4.63 (10.01%)
Data Agro / Oct 9 Data Agro Limited(DAAG)	111.99 ▲ 10.18 (10%)
F.Credit & Inv / Oct 9 First Credit and Investment Bank Limited(FCIBL)	40.37 ▲ 3.67 (10%)
Fateh Ind. / Oct 9 Fateh Industries Limited(FIL)	317.22 ▲ 28.84 (10%)
Kohinoor Ind. / Oct 9 Kohinoor Industries Limited(KOIL)	37.41 ▲ 3.4 (10%)
Khairpur Sug. / Oct 9 Khairpur Sugar Mills Limited(KPUS)	745.47 ▲ 67.77 (10%)
Leiner Pak Gelat / Oct 9 Leiner Pak Gelatine Limited(LPGL)	72.60 ▲ 6.6 (10%)

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Asim Textile / Oct 9 Asim Textile Mills Limited(ASTM)	66.20 ▼ -7.35 (-9.99%)
Pak Gulf Leasing / Oct 9 Pak-Gulf Leasing Company Limited(PGLC)	14.45 ▼ -1.6 (-9.97%)
Ashfaq Textile / Oct 9 Ashfaq Textile Mills Limited(ASHT)	39.44 ▼ -3.44 (-8.02%)
Paramount Mod / Oct 9 First Paramount Modaraba(FPRM)	13.09 ▼ -1.13 (-7.95%)
Pak Leather Crafts / Oct 9 Pak Leather Crafts Limited(PAKL)	46.08 ▼ -3.92 (-7.84%)
Crescent Fib. / Oct 9 Crescent Fibres Limited(CFL)	51.02 ▼ -4.24 (-7.67%)
Bela Auto / Oct 9 Bela Automotives Limited(BELA)	67.65 ▼ -5.6 (-7.65%)
Olympia Mills / Oct 9 Olympia Mills Limited(OML)	62.93 ▼ -4.88 (-7.2%)
Azgard Nine (Non-Voti) / Oct 9 Azgard Nine (Non-Voti)(ANLNV)	7.14 ▼ -0.49 (-6.42%)
Sally Textile / Oct 9 Sally Textile Mills Limited(SLYT)	14.51 ▼ -0.93 (-6.02%)

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Cnergyico PK / Oct 9 Cnergyico PK Limited(CNERGY)	27,276,548 ▲ 0.13
Pakistan Refinery / Oct 9 Pakistan Refinery Limited(PRL)	24,123,072 ▲ 1.95
Treet Corp / Oct 9 Treet Corporation Limited(TREET)	22,903,682 ▲ 1.47
WorldCall Telecom / Oct 9 Worldcall Telecom Limited(WTL)	16,515,311 ▼ -0.01
D.S. Ind. Ltd. / Oct 9 D.S. Industries Limited(DSIL)	13,282,421 ▲ 1.64
Waves Home Appliances / Oct 9 Waves Home Appliances Limited(WAVESAPP)	10,545,250 ▼ -0.08
K-Electric Ltd. / Oct 9 K-Electric Limited(KEL)	8,957,666 ▲ 0.09
TPL Properties / Oct 9 TPL Properties Limited(TPLP)	7,476,630 ▲ 0.58
Pak Int.Bulk / Oct 9 Pakistan International Bulk Terminal(PIBTL)	7,151,594 ▼ -0.06
TPL REIT Fund I / Oct 9 TPL REIT Fund I(TPLRF1)	6,627,364 ▲ 0.64