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Tata Steel, SAIL: Should you Buy or Sell them? Here's what charts suggest

Charts of steel stocks signal further downside, indicating a fall up to 20 per cent in select shares; cement counters indicate a wait-and-watch approach

Topics
Jindal Steel and Power | Tata Steel | Market Outlook

Avdhut Bagkar  |  Mumbai 

Steel
Export duty hike

Shares of steel manufacturing companies were bleeding in trades on Monday, with select stocks hitting the lower circuits

after the government levied export duty on 11 iron and steel intermediates and key steel products. The government levied export duty of 15 per cent on almost all the major steel products (including stainless steel).

Among individual stocks, Jindal Steel & Power tanked 15 per cent; Tata Steel, Steel Authority of India (SAIL) and JSW Steel tumbled over 10 per cent each. READ MORE

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First Published: Mon, May 23 2022. 12:14 IST
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