Indian steel stocks jump on government imposing 12% temporary safeguard duty

Steel Authority of India

22/04/2025 05:05

** Shares of Indian steelmakers up ~2%

** JSW Steel JSTL.NS rises 1.8%, Tata Steel TISC.NS and SAIL SAIL.NS up 2% each

** Nifty metal index .NIFTYMET up 1% on the day

** The Indian government imposes a 12% temporary safeguard duty on some steel products to stem cheap Chinese imports

** Govt's decision positive development for domestic steel firms, ongoing recovery in prices to support margin expansion Q1FY26 onwards - brokerage ICICI Direct Research

 (Reporting by Hritam Mukherjee in Bengaluru)

 ((Hritam.Mukherjee@thomsonreuters.com;))