- Date : 20/09/2023
- Read: 3 mins
Which steel and iron stocks are driving India's steel industry and have you invested in them? Explore the top six players!
India's iron and steel sector, now the world's second-largest producer, thrives on abundant raw materials and cost-effective labour, fostering a significant impact on the nation's manufacturing output. This industry continuously strives to modernise and elevate energy efficiency levels. Let’s look at the best iron and steel stocks to invest in 2023.
The iron and steel industry in India is thriving, ranking as the world's second-largest steel producer.
Key players like JSW Steel, Tata Steel, and Jindal Steel shape India's steel landscape.
The Steel Authority of India Limited (SAIL), a state-owned enterprise, also contributes significantly to India's steel output.
Top 7 Steel and Iron Stocks
1. JSW Steel Limited
This is a heavyweight in the industry, known for its extensive product range, including hot-rolled coils and colour-coated goods. The company's footprint spans not only steel but also mining and energy.
2. Tata Steel Limited
As part of the esteemed Tata Group, it is a stalwart in the industry, boasting a rich legacy since its establishment in 1907. With a global presence, Tata Steel is a force to be reckoned with in Southeast Asia, Europe, and India.
3. Jindal Steel Limited
The company is known for its diversified portfolio, spanning mining, power, steel, and infrastructure sectors. Their product line includes sponge iron, pig iron, and an array of steel products.
4. APL Apollo Tubes Limited
This is a noteworthy name in electric resistance welded steel pipes and sections. Established in 1986, they are known for manufacturing a variety of steel and iron tubes and pipes.
5. National Mineral Development Company (NMDC) Limited
The company specialises in exploring various metals, including copper and iron ore. Their commitment to high returns and low debt makes them stand out in the industry.
6. Steel Authority of India Limited (SAIL)
A government-owned giant, this company is a key player in steel production in India. With a diverse product range, including galvanised sheets and rails, they play a significant role in the nation's steel landscape.
7. Usha Martin Limited
Established in 1960, the company focuses on speciality steel and steel products. With manufacturing units across six Indian cities and four countries worldwide, they are a leading manufacturer of wire rope globally.
A Financial Snapshot at the Best Iron and Steel Stocks
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Disclaimer: This article is intended for general information purposes only and should not be construed as insurance or investment or tax or legal advice. You should separately obtain independent advice when making decisions in these areas.