Indian metal stocks rise as government mulls 'safeguard duty' for steel imports

Ratnamani Metals and Tubes

23/12/2024 06:10

** Indian metal stocks  .NIFTYMET  climb 1.6% to one month
high, set to snap six-session losing streak
    ** Index is top sectoral gainer, with 12 of 15 members
higher
    ** India's Directorate General of Trade Remedies starts
safeguard probe on imports of non-alloy and alloy steel flat
products
    ** Tata Steel  TISC.NS  up 3.2% and JSW Steel  JSTL.NS  ~2%
    ** The duo could benefit most from a safeguard duty, says
Investec
    ** YTD, metals index gains 12.5% vs Nifty 50's  .NSEI  ~10%
rise

 (Reporting by Kashish Tandon in Bengaluru)
 ((Kashish.tandon@thomsonreuters.com))