Shares of JSW Steel, Tata Steel, and SAIL were trading higher in the early session on March 19, 2025, with gains of up to 3.47%, driven by positive brokerage commentary and the recently recommended safeguard duty on steel imports.
At 9:17 AM, JSW Steel was up 1.94% at ₹1,037.75, Tata Steel gained 2.24% to ₹158.13, while SAIL surged 3.47% to ₹112.69.
Brokerages have remained optimistic on these stocks, citing the 12% safeguard duty on flat steel products for 200 days, which is expected to support domestic steel prices. JPMorgan, CLSA, and Emkay Global have highlighted potential price hikes and improved demand prospects, further strengthening investor sentiment.
Additionally, Emkay has issued a Buy rating on Tata Steel and an Add rating on JSW Steel, citing a mid-cycle recovery in the steel sector. CLSA also raised target prices for JSW Steel and Tata Steel, favoring non-ferrous metals due to their stronger demand outlook amid China stimulus measures.
The safeguard duty move, coupled with China’s output cuts and infrastructure funding in Germany, has provided a positive trigger for Indian steel stocks, which have been under pressure in recent months.
(Disclaimer: This article is for informational purposes only and does not constitute financial advice.)
