Steel firms’ profits may improve in H2: Icra

Kolkata: Domestic steel companies can expect improved profitability in the second half of the year with steel prices and demand estimated to pick up in and around the festive season driven by government spending in construction and infrastructure, ratings agency ICRANSE -0.79 % has said.

However, an overall slowdown in the economy and subsequent fall in GDP growth rate will leave an impact on the steel sector by slowing down its growth to around 5-6% in FY20 as against 7.9% in FY19.