Expect H2 biz pickup to push up steel demand by 4-5%-:- Equity Research

In a departure from the trend, August core data shows that steel output surged substantially by 17 percent. Jindal Steel and Power's management attributed the rise in steel output to coming into action of secondary units which were stalled earlier. Steel demand, however, is yet to pick up, according to the company. In the first 6 months of the year, steel demand grow by just 0.5 percent, and now with the end of monsoon business activity with pick pace in the second half which is likely to push up steel demand by 4-5 percent for the year, said Ravi Uppal, Chief Executive and Managing Director of JSPL. Uppal said that the company is consolidating its business and is looking divesting non-core assets. JSPL's core assets include steel and power.