The metal sector witnessed significant losses today, with the S&P BSE Metal Index reflecting the pressure as benchmark stocks declined across the board. Sentiments turned negative amid broader market weaknesses, and the sector faced sustained selling pressure.
Key Performers in the Metal Sector:
| Scrip | BSE Price (₹) | NSE Price (₹) | % Change (NSE) |
|---|---|---|---|
| APL Apollo Tubes | 1,593.05 | 1,591.00 | -1.59% |
| Coal India | 383.50 | 382.95 | -2.72% |
| Hindalco | 576.00 | 576.45 | -2.49% |
| Hindustan Zinc | 453.00 | 451.90 | -3.68% |
| Jindal Steel & Power | 935.20 | 934.35 | -2.45% |
| JSW Steel | 906.00 | 904.50 | -1.15% |
| Maithan Alloys | 1,104.85 | 1,105.00 | -4.79% |
| MOIL | 333.00 | 332.75 | -4.70% |
| NALCO | 202.55 | 202.21 | -2.78% |
| NMDC | 65.70 | 65.74 | -2.84% |
| SAIL | 110.95 | 110.71 | -3.03% |
| Tata Steel | 132.65 | 132.59 | -4.17% |
| Vedanta | 444.85 | 444.60 | -2.98% |
| Welspun Corp | 786.80 | 787.20 | -3.33% |
Index Movement:
- S&P BSE Metal Index: Declined 1.5%.
- S&P BSE Sensex: Down 1.14%, at 78,318.65.
Union Minister of Steel and Heavy Industries, Shri H.D. Kumaraswamy, is set to launch the ‘PLI Scheme 1.1’ for the steel sector and open the application window during an event at Vigyan Bhavan, New Delhi, today. This initiative aims to bolster domestic manufacturing in the steel industry, focusing on enhancing the production of ‘Specialty Steel.’
Key Highlights of the PLI Scheme:
- The earlier scheme attracted investments of ₹27,106 crore, created 14,760 direct jobs, and facilitated the production of 7.90 million tonnes of specialty steel.
- As of November 2024, ₹18,300 crore has already been invested, generating over 8,660 jobs.
- The relaunch, based on industry feedback, is expected to invite more participation and drive further growth in the sector.
