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India Crude Steel Production for Aug’21 id down by 2% MoM but up by 6% YoY at 9.6 mnt.
India’s Finished Steel Export volume for Aug’21 stood at 1.3 mnt down by 12% MoM but up by 2% YoY. Exports were down MoM as South East Asian countries were under lockdown which dampened the demand, whereas, summer breaks in Europe restricted exports to EU. Neutral
India’s Finished Steel Export volume for Aug’21 stood at 1.3 mnt down by 12% MoM but up by 2% YoY. Exports were down MoM as South East Asian countries were under lockdown which dampened the demand, whereas, summer breaks in Europe restricted exports to EU. Neutral
*M&M Financial:* Collection Efficiency has improved from 90% in June to 95% in July and to 97% in August. Co witnessed a reduction in the NPA contracts during the month as customer cash flows improved and co expects the same to continue in future. *Positive in short term.* (Medium term outlook would depend on: progress of monsoon and covid wave 3)