On Wednesday, Jindal Steel and Power had reported “meaningful recovery” in steel sales, despite low railway rake availability. They stressed that sales volume registered a year-on-year growth of 20 per cent to 6.95 lakh tonnes in January this year.

• Oswal Pumps, Shakti Pumps Rally on Solar Order Wins
• Glenmark, Granules Rally on US Drug Approvals
• Key Factors Behind Today’s Market Rally
• HDFC Bank Shares Climb 3% on Strong Q1 Update
• Overnight Stock Market Movements: Key Developments 

Inventories continued to decline for the second consecutive month, with the company posting steel production of 6.82 lakh tonnes.

Sales volume increased 20 per cent year-on-year to 6.95 lakh tonnes, compared to 5.81 lakh tonnes on January 21, the company said in a statement.