International iron ore and coking coal prices have seen a fall in recent times and JSW Steel is expected to benefit from the same. But Seshagiri Rao, joint MD and group CFO, JSW Steel says the same trend is not seen in India due to shortage of iron ore. He believes domestic iron ore production is likely to see a deficit of 30 million tonne this year.

He feels the company will have to increase iron ore import from 6 million tonne to 10 million tonne. JSW Steel has a sales volume target at 12.4 MT for FY15. Rao says the company is following a strategy of backward and forward integration and keeps scouting the market for such opportunities. Luchini is one such opportunity and JSW Steel has bid for its rolling plant.

The Sensex declined 79.49 points to 27127.25 and the Nifty fell 24.15 points to 8122.15. Kunj Bansal of Centrum Wealth Management does not expect the sharemarket to correct sharply. He says a lot of negatives that could have had an impact on the market have cooled off – inflation is correcting, oil prices globally have fallen and the fear of less-than-needed monsoon has also abated. The three combine can result in WPI and CPI cooling. According to him, maximum there can be a 4-odd-percent correction in indices.

Shares of real estate stocks are under pressure as property prices in Delhi are set to rise. The Delhi government hiked circle rates- the minimum valuation at which properties have to be registered – by up to 20 percent with an aim to check black money component in sale and purchase transactions.

The new rates will come into effect from today. As per the decision approved by Lt Governor Najeeb Jung, the circle rate has been increased to Rs 7.74 lakh per square metre of land from Rs 6.45 lakh in category A residential colonies like Greater Kailash, Defence Colony, Gulmohar Park, Panchsheel Enclave, Anandlok, Green Park, Golf Links and Hauz Khas.

coustery :  http://www.moneycontrol.com/news/local-markets/sensex-nifty-consolidate-fmcg-under-pressure-hindalco-up_1186224.html