Mr TV Narendran Managing Director of TATA Steel while commenting on the steel sector outlook said there were some changes in the last two three months including clearance for several projects and commercial vehicle sales picking up.

He said “The commercial vehicles business for the automotive companies is definitely seeing a pickup. I don't know how long it will stay but this quarter is definitely better than last quarter.”

According to the Mr Narendran, liquidity continues to be tight in the market as a result of which many of the company’s customers are struggling.

He added “However, a stable economic environment post the general elections are desirous for growth. Also important is having the right policies. At the end of the day, people want some stability and from an industry point of view we want the right economic policies for growth.”