In the Capital Market

crore against Rs 19.83 crore. Commenting on the market conditions, the directors point out that even against firm orders, clearances for production are now-a-days given by most of the consumers on a month-to-month basis. The drop in the production of commercial vehicles during the last six months has in turn contributed to a slowdown in the offtake of alloy and special steels by not only commercial vehicle manufactures but also forging units.