Shares of metal companies are in limelight on the bourses in late noon deals on reports that the government has imposes 20% import tax on some China hot rolled (HR) flat steel to prevent market disruption to domestic industry.
Steel Authority of India (SAIL), JSW Steel, Tata Steel, Bhushan Steel, Hindalco Industries, Hindustan Zinc and Sea Goa are trading higher by 2-6% on the Bombay Stock Exchange (BSE).
The BSE Metal index, the largest gainer among sectoral indices, is up nearly 2% compared to a marginal 0.17% fall in benchmark Sensex at 1448 hours.
Import tax on some HR flat products of stainless steel for 200 days, according to a statement on customs department’s website, the Bloomberg report suggests.
