<p class="title">Domestic steel demand has grown by 5.2% during the first nine months of 2017-18 which is positive for the industry, rating agency Icra has said.</p>.<p class="bodytext">The rise in demand was aided by a buoyancy in the automobile sector and recovery in the construction and capital goods sectors, the agency said in a statement.</p>.<p class="bodytext">Going forward, Icra expects domestic consumption growth to be favourable in the backdrop of the government's thrust on infrastructure, particularly in affordable housing and power transmission segments.</p>.<p class="bodytext">"A combination of favourable factors like domestic demand rise in domestic and international markets and lower growth in imports would help the sector in the days forward," Icra said.</p>.<p class="bodytext">In a sample study of 22 large abd mid-sized steel companies accounting for about 60% of present internal capacity of the industry, Icra found that operating margins in the third quarter of the current fiscal had increased along with better interest cost coverage.</p>.<p class="bodytext">The resolution process under IBC for five steel companies, accounting for 17% of installed capacity, had also seen partcipation from both domestic and international entities, it said.</p>
<p class="title">Domestic steel demand has grown by 5.2% during the first nine months of 2017-18 which is positive for the industry, rating agency Icra has said.</p>.<p class="bodytext">The rise in demand was aided by a buoyancy in the automobile sector and recovery in the construction and capital goods sectors, the agency said in a statement.</p>.<p class="bodytext">Going forward, Icra expects domestic consumption growth to be favourable in the backdrop of the government's thrust on infrastructure, particularly in affordable housing and power transmission segments.</p>.<p class="bodytext">"A combination of favourable factors like domestic demand rise in domestic and international markets and lower growth in imports would help the sector in the days forward," Icra said.</p>.<p class="bodytext">In a sample study of 22 large abd mid-sized steel companies accounting for about 60% of present internal capacity of the industry, Icra found that operating margins in the third quarter of the current fiscal had increased along with better interest cost coverage.</p>.<p class="bodytext">The resolution process under IBC for five steel companies, accounting for 17% of installed capacity, had also seen partcipation from both domestic and international entities, it said.</p>