Abstract: This invention relates to an improvement on material of a shroud for gas turbines. The material comprises 0.25-0.7 wt % C, 20-35 wt % Cr, 20-40 wt % Ni and balance Fe, and has an austenitic structure. The amount of the .sigma.-phase in this invention is less than 5% and Nv value (Electron Vacancy Number) is less than 2.8.