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

Steel
Web Exclusive Premium

Export duty hike

Avdhut Bagkar Mumbai
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

Going ahead, analysts believe that just like the steel sector, the cement industry could see

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: May 23 2022 | 12:14 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com