Daily Brief Utilities: SG Mart and more

• SG Mart is rapidly expanding its B2B marketplace for building materials, primarily focusing on steel, with an aggressive growth strategy aiming to capture a significant share of the large and fragmented Indian market.
• The company benefits from the strong backing of the APL Apollo Group, providing it with industry relationships, funding, and brand leverage for its B2C distribution.
• Key risks include the highly competitive nature of the steel trading industry, which operates on thin margins, and the volatility of steel prices, which can impact profitability.

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