Indian steel stocks rally as Nomura reaffirms "Buy" ratings

Steel Authority of India

17/03/2026 05:25

**Shares of steel stocks up between 1.1% and 5.4%, Nifty Metal .NIFTYMET index up nearly 2%

**Nomura maintains existing earnings estimates for its coverage of Indian steel stocks, reiterates "Buy" on Tata Steel TISC.NS, JSW Steel JSTL.NS, Jindal Steel JINT.NS and Lloyds Metals and Energy LYMT.NS

**Brokerage maintains that steel is India's story, and global factors, especially China, should have a limited impact on the earnings potential of major steel players

**Adds bullish stance on the India steel sector is underpinned by improving domestic price momentum despite global headwinds

**Domestic HRC steel price and rebar prices rose last week, reflecting improving pricing discipline with margin expansion supported by higher steel prices while input costs remained stable

**LLoyd Metals leads gains with 5.4% rise, trailed by Steel Authority of India's SAIL.NS 3.7% rise and Tata Steel up at nearly 3%

**Jindal Steel up 2% and JSW Steel up 1.1%

**YTD, Nifty Metal index up 3.3%

(Reporting by Mridula Kumar in Bengaluru)

((Mridula.Kumar@thomsonreuters.com;))