 "Steel stocks up 2nd straight day, rally up to 5%; SAIL, JSL hit 52-wk highs")
Steel companies share price today
Share prices of steel companies continued their upward movement for the second straight day, and rallied up to 5 per cent amid reports that the government has notified the much-awaited Anti-dumping duty/safeguard duty on flat steel imports for a period of 3 years (FY26-28E).
Jindal Stainless (JSL), Tata Steel, Jindal Steel, JSW Steel and Steel Authority of India (SAIL) soared up to 5 per cent on the BSE in Wednesday’s intra-day trade. In the past two trading days, these stocks have surged between 5 per cent and 10 per cent.
Among individual stocks, Jindal Stainless stock has surged 4 per cent to ₹866.90, hitting a 52-week high in intra-day trade. The stock surpassed its previous high of ₹825.25 touched on October 29, 2025. In the past two trading days, it rallied 9 per cent.
Share price of SAIL also hit a 52-week high of ₹147, surpassing its previous high of ₹145.90 touched on November 13, 2025. In the past two days, the stock price of public sector company has zoomed 10 per cent. CATCH STOCK MARKET UDPATES TODAY LIVE
What’s driving steel stocks?
As per media reports, the government has notified the much-awaited Anti-dumping duty/safeguard duty on flat steel imports for a period of 3 years (FY26-28E).
Meanwhile, as per separate reports, leading Indian steelmakers have hiked domestic Hot Rolled Coils (HRC) and Cold Rolled Coils (CRC) prices by ₹750/tonne on December 30, 2025. Following this hike, domestic HRC and CRC prices are currently trading at ~₹49,800/ton and ~₹56,400/ton, respectively. Moreover, steel companies are planning further price hikes in early January 2026, reports suggested.
With the recent increase, domestic HRC prices have risen by ~₹3,000/ton from the 5-year low of ~₹46,500 reported in Nov’25. The recent price hikes reflect higher raw material cost (i.e. iron ore and coking coal), moderate inventory levels, and gradual recovery in domestic demand.
These price increases are likely to improve revenue and margin prospects for steel makers in Q4FY26. On that note, ICICI Securities said that they remain positive on domestic steel space, with the brokerage firm’s top bet being Tata Steel, supported by its ongoing capacity expansions and sustained efforts toward cost optimization. ALSO READ | Dynacons Systems shares soar 14% after contract win from RBI; Details here
The government notification on Anti-dumping duty/safeguard duty on flat steel imports is positive for all domestic steel players as it will support steel prices with key beneficiaries being JSW Steel, Jindal Steel and Tata Steel in our coverage universe, ICICI Securities said in a note.
Meanwhile, SAIL in its Q2 earnings conference call said that the company hopes that the market is going to have an uptick in terms of its demand as well as the production will be robust, demand will increase so pressure on the pricing front may ease out and prices may improve.
As the coal prices continue to remain range-bound, however, because of the depletion in rupee with respect to the US dollar, there is some impact on the bottom line. But in terms of the index of coal price, that is almost kind of range-bound. So, the margins are likely to improve going forward, SAIL said.
Meanwhile, domestic hot rolled coil prices have corrected by more than 10 per cent from highs of ₹52,500 per ton in May 2025 because of tepid demand and a supply glut. Significant capacity additions by domestic peers over the past few quarters have created a temporary surplus. This coincided with an extended monsoon, which has slowed construction activity. The demand-supply imbalance will likely persist for a few months until construction activity gains momentum, according to S&P Global Ratings. ALSO READ | Apollo Techno Industries shares list at 11% premium on BSE SME
The rating agency forecast Tata Steel's EBITDA will increase 30 per cent to ₹41,000 crore billion in fiscal 2027, compared with its estimate of ₹31,900 crore for fiscal 2026. “In our view, this earnings growth will lift the company's ratio of FFO to debt to 26 per cent-27 per cent. The ratio could approach 20 per cent if there is a slow ramp-up at the Kalinganagar facility or a delayed turnaround of the UK operations and this could further weigh on the rating,” S&P Global Ratings said in rationale. Tata Steel's ratio of FFO to debt has been below 20 per cent for the past two years due to industry headwinds and losses in Europe.