The world’s pioneering steel company Tata Steel has announced a growth of 26 per cent in its sales for the last month (January 2009).
During the month, the company’s sales stood at 511,000 tons, as against 404,000 tons in the corresponding period of the last year.
With an increase of 35%, the company’s saleable steel in January 2009 recorded the highest production at 548,000 tons as compared to the prior year period,
In the meantime, production of hot metal zoomed 32% at 574,000 tons and that of crude steel grew 25% to 525,000 tons, over the prior year period.
McNally Bharat Engineering bagged an order worth Rs 116 crore from state-run Steel Authority of India for a water supply system project at its Burnpur plant.
India's largest steel company, Tata Steel hopes early recovery of normalcy in steel market, the worst hit segment due to decline in auto sales and customer spending, under the impact of global slowdown and recession like conditions across the world. 
In today's trading session, Tata group stocks witnessed mixed reaction from investors on news that Tata Sons, the holding company of the Tata group, has pledged shares of some of the group companies, to finance operations in a tight liquidity situation in the credit market.
In a bid to acquire a majority stake in Orissa Sponge Iron & Steel, three un-listed Indian firms have jointly made an open offer to acquire 26 percent of its equity, for Rs 300 per share. 
Higher input costs and global slowdown adversely hit the business of state operated Steel Authority of India (SAIL) for the third quarter of current financial year.
