Introduction:
Steel stocks jumped up to 7% after DGTR recommended a 12% temporary safeguard duty on certain steel products for 200 days to curb imports. The move aims to protect domestic manufacturers, as rising import costs may boost prices and profitability in the sector.
The industry demanded a 25% duty, but the 12% recommendation is seen as positive. Import costs could rise by ₹5,500 per ton, while Hot Rolled Coil prices may increase ₹2,000 per ton. Recent rallies were driven by China’s steel output cuts, Germany’s fund announcement, and safeguard duty optimism.
Here are the stocks that have witnessed an upward movement:
Steel Authority of India Ltd:
On March 19, 2025, Steel Authority of India Limited opened at ₹113.50, reaching a high of ₹114.40, up 3.54% from its previous close of ₹108.91, with a low of ₹110.61. The stock is currently trading at ₹112.77, with a market cap of ₹46,592.33 Crores.
Steel Authority of India Ltd (NSE : SAIL)is one of India’s largest state-owned steel producers. It operates integrated steel plants across the country, manufacturing a wide range of steel products used in infrastructure, construction, railways, and the defense sector.
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Tata Steel Ltd:
On March 19, 2025, Tata Steel Ltd opened at ₹156.35, reaching a high of ₹159.25, up 2.55% from its previous close of ₹154.65, with a low of ₹156.35. The stock is currently trading at ₹158.60, with a market cap of ₹1,97,987.40 Crores.
Tata Steel Ltd (BSE :500470) is a leading global steel company and part of the Tata Group. With operations spanning India and Europe, the company manufactures high-quality steel products catering to automotive, construction, consumer goods, and industrial sectors, emphasizing sustainability and innovation.
JSW Steel Ltd:
On March 19, 2025, JSW Steel Ltd opened at ₹1,041.00, reaching a high of ₹1,047.45, up 1.17% from its previous close of ₹1,018.50, with a low of ₹1,023.55. The stock is currently trading at ₹1,030.45, with a market cap of ₹2,51,991.80 Crores.
JSW Steel Ltd (BSE : 500228) is a part of the diversified JSW Group, is among India’s top steel producers. The company specializes in producing hot-rolled, cold-rolled, galvanized, and color-coated steel products serving sectors like infrastructure, automotive, energy, construction, and engineering industries.
NMDC Steel Ltd:
On March 19, 2025, NMDC Steel Ltd opened at ₹34.00, reaching a high of ₹36.40, up 8.02% from its previous close of ₹33.56, with a low of ₹33.99. The stock is currently trading at ₹36.25, with a market cap of ₹10,617.58 Crores.
NMDC Steel Ltd (NSE:NSLNISP) is a public sector enterprise engaged in manufacturing high-grade steel. A subsidiary of NMDC Limited, it operates a state-of-the-art steel plant in Chhattisgarh, focusing on flat and long products used in infrastructure, railways, construction, and defense.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.
