Tata Steel, JSW Steel, SAIL, Jindal Steel: Steel stocks join D-Street party; here's why
Tata Steel Ltd, JSW Steel Ltd, SAIL Ltd, JSPL, and Jindal Stainless were among the top gainers on the BSE metal index in early deals today.
- Aug 18, 2025,
- Updated Sep 15, 2025 12:40 PM IST
Shares of ferrous metal producers Tata Steel Ltd, JSW Steel Ltd, SAIL Ltd, Jindal Steel, among others rose up to 2.50% in early deals on Monday after the Commerce Ministry's arm Directorate General of Trade Remedies (DGTR) proposed imposition of safeguard duty for three years on imports of some flat steel products, in order to protect domestic manufacturers.
Tata Steel Ltd (1.5%), JSW Steel Ltd (1.63%), SAIL Ltd (2.49%), Jindal Steel (2.02%) and Jindal Stainless (1.53%) were among the top gainers on the BSE metal index in early deals today.
Meanwhile, the BSE metal index surged 1.4% or 448 pts to 31,135 level in early deals.
Directorate General of Trade Remedies (DGTR) has proposed a final safeguard duty on steel imports, set to last for three years. The recommended duty includes a 12% levy for the first year, which will slightly decrease to 11.5% in the second year and 11% in the third. This development comes as a relief to the steel sector, especially since the existing 12% duty was due to end in September. The announcement clears uncertainty surrounding the duty's future, which had been a concern for the market.
Major steel companies, including Tata Steel, JSW Steel, Steel Authority of India Limited (SAIL), and Jindal Steel, stand to gain from this move. These companies, along with other ferrous stocks, are expected to benefit directly from the extended safeguard duty. Additionally, entities such as NMDC and APL Apollo, along with other pipe manufacturers, might see indirect advantages, potentially boosting their market performance as well. The anticipation of this announcement had already been reflected in market sentiments, with the directive expected to bring stability to steel stock valuations.
The safeguard duty is anticipated to shield domestic steel manufacturers from the influx of cheaper imports, providing a more level playing field in the market. This measure ensures competitiveness within the industry and could lead to increased investments and production capacity expansion among domestic players. The broader implications on the market include potential price adjustments and a more robust domestic steel industry, which could further influence related sectors. Stakeholders in the steel and related industries are likely to monitor the implementations and its impact over the coming months, assessing the longer-term effects on financial performance and market positioning.
Meanwhile, Sensex rallied 1,061 pts to 81,661 and Nifty gained 354 points to 24,985 in early deals tody. The rally in the market came after PM Narendra Modi announced rolling out of a major round of GST reform by Diwali. This would simplify the rate structure and reduce the tax burden on key categories. The reform is expected to boost consumption demand, especially for automobiles, in India.
Shares of ferrous metal producers Tata Steel Ltd, JSW Steel Ltd, SAIL Ltd, Jindal Steel, among others rose up to 2.50% in early deals on Monday after the Commerce Ministry's arm Directorate General of Trade Remedies (DGTR) proposed imposition of safeguard duty for three years on imports of some flat steel products, in order to protect domestic manufacturers.
Tata Steel Ltd (1.5%), JSW Steel Ltd (1.63%), SAIL Ltd (2.49%), Jindal Steel (2.02%) and Jindal Stainless (1.53%) were among the top gainers on the BSE metal index in early deals today.
Meanwhile, the BSE metal index surged 1.4% or 448 pts to 31,135 level in early deals.
Directorate General of Trade Remedies (DGTR) has proposed a final safeguard duty on steel imports, set to last for three years. The recommended duty includes a 12% levy for the first year, which will slightly decrease to 11.5% in the second year and 11% in the third. This development comes as a relief to the steel sector, especially since the existing 12% duty was due to end in September. The announcement clears uncertainty surrounding the duty's future, which had been a concern for the market.
Major steel companies, including Tata Steel, JSW Steel, Steel Authority of India Limited (SAIL), and Jindal Steel, stand to gain from this move. These companies, along with other ferrous stocks, are expected to benefit directly from the extended safeguard duty. Additionally, entities such as NMDC and APL Apollo, along with other pipe manufacturers, might see indirect advantages, potentially boosting their market performance as well. The anticipation of this announcement had already been reflected in market sentiments, with the directive expected to bring stability to steel stock valuations.
The safeguard duty is anticipated to shield domestic steel manufacturers from the influx of cheaper imports, providing a more level playing field in the market. This measure ensures competitiveness within the industry and could lead to increased investments and production capacity expansion among domestic players. The broader implications on the market include potential price adjustments and a more robust domestic steel industry, which could further influence related sectors. Stakeholders in the steel and related industries are likely to monitor the implementations and its impact over the coming months, assessing the longer-term effects on financial performance and market positioning.
Meanwhile, Sensex rallied 1,061 pts to 81,661 and Nifty gained 354 points to 24,985 in early deals tody. The rally in the market came after PM Narendra Modi announced rolling out of a major round of GST reform by Diwali. This would simplify the rate structure and reduce the tax burden on key categories. The reform is expected to boost consumption demand, especially for automobiles, in India.