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Tata Steel hopes to raise sales in FY14

Tata Steel hopes to raise sales in FY14

Tata Steel, which sold 7.5 million tonne of steel in 2012-13, plans to raise the sale to 8.5 million tonne in the current financial year, which is a growth of around 13.3 per cent.

The company is hopeful of raising sales in the current fiscal as it expects increase in demand following the monsoon season. During Apr-Jun 2013, the firm posted a year-on-year sales growth of 26 per cent.

Domestic sales constituted 98 per cent of the 2.01 million tonne steel sold in the April-June quarter.

The company expects to overcome competition through cutting edge branding initiative and market research.

While the company admits to pricing constraints during the seasonally weak monsoon period, and sluggish economic activity, it is hopeful of improvement in the pricing going forward.

There is good chance for domestic steel producers to raise prices owing to the depreciation of rupee, the firm feels.

Depreciation of rupee makes imported steel costlier compared to domestic product and this gives room for local players to raise prices.

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