Steel Industry of India: Outlook and Challenges
- Credit Rating Agency in India
- Industry Report
- Steel Industry of India: Outlook and Challenges
With the upsurge of second wave of Covid-19 in India, amid acute shortage of oxygen and hospital bed facilities in Delhi, the situation becomes worrisome, though announcement of vaccine availability after 1 March 2021 above 18 ages for all is a positive amid the nervous market. As India is once again in the middle of the second wave of the Covid-19 crisis, with active cases have shot up alarmingly, Investors are also worried about the pace of India’s economic recovery. Domestic markets are witnessing a surge in volatility due to the current Covid-19 situation. Volatility could increase further if the situation continues to worsen. On 19th April 2021, domestic stock markets crashed and benchmark indices S&P BSE Sensex and NSE Nifty50 fell sharply. Panicked by the record rise in covid cases will derail economic recovery, the Sensex fell as much as 1470 points at day's low before recovering to close at 47,949, down about 900 points. The Nifty finished 1.7 per cent lower at 14,359, after falling to 14,191 at day's lows.