Steel cos set for profit surge in March qter

A protectionist measure introduced in late December, along with seasonal strength in the January-March period, is set to drive a sharp sequential rise in profits for steel makers in the March quarter. Higher prices and volumes are expected to offset the impact of rising coking coal costs. State-owned Steel Authority of India (SAIL) is likely to report the sharpest sequential profit growth, with earnings seen rising threefold from the December quarter, analysts said. A growth in Tata Steel's cons...