Shares of major steelmakers including SAIL, Tata Steel, and JSW Steel are likely to remain in focus today after brokerage firm Nuvama Institutional Equities indicated a major policy development from the Finance Ministry.
According to Nuvama’s channel checks, the Finance Ministry is expected to go ahead with the proposed safeguard duty of 12% / 11.5% / 11% on select steel imports for the next three years, with an official notification likely to be issued later today.
The move is being seen as a big positive for domestic steel producers, as the safeguard duty will help protect Indian manufacturers from cheaper imports and stabilize domestic pricing in the medium term.
Analysts suggest that the implementation of these duties could lead to improved capacity utilization, stronger margins, and better pricing power for integrated steelmakers like SAIL, Tata Steel, and JSW Steel.
This development comes at a crucial time when global steel prices have been volatile and India’s steel exports have been under pressure. A safeguard duty is expected to provide a supportive environment for domestic producers amid rising input costs and subdued international demand.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
