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.

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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.