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STEEL GIANTS SEE DOUBLE-DIGIT GROWTH IN Q3 (increased demand for steel from housing and infrastructure sectors has helped in achieving good results).

Asia Africa Intelligence Wire

| February 01, 2003 | COPYRIGHT 2003 Financial Times Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

(From India Business Insight)

Steel companies have shown a remarkable improvement in performance during Oct-Dec 2002 with all the large producers recording double-digit growth in net sales and also doubling their net profits. Some of the loss-making companies like Steel Authority of India Ltd (SAIL) have considerably reduced their losses.

Tata Steel and SAIL have both recorded over 27 percent growth in sales during Oct-Dec 2002. The net profit of Tata Steel has shot up by 711 percent. SAIL has reduced its loss by 86.5 percent, ...

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