Indianconstructionindustry news alert:Mukand plans price hike by up to Rs 3,000/ tonne in July

Mumbai : Specialty steel major Mukand plans to raise the prices of its products by Rs 2,000-3,000 per tonne in July, a top company official said today.We plan to raise our prices in July by Rs 2,000-3,000 per tonne, Mukand's Co-Chairman and Managing Director Rajesh Shah told PTI here.

On the outlook for this fiscal (FY11), Shah said that things were looking good for the company and it expects to clock sales of Rs 2,500 crore."The outlook for this year is good and the demand for alloy steels, in which we are a major player, is high. We expect a sale of Rs 2,500 crore this fiscal," Shah said.

The company would be upping its output of specialty alloys and stainless steel to 3,75,000 tonnes per annum (tpa) this year, 4,50,000 tpa in 2011 and to 5 lakh tpa in 2012.

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