CLOSING BELL: On the NSE, the Nifty50 shut shop at 16,138, down 77 points or 0.47 per cent
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
The government levied export duty on 11 iron and steel intermediates and key steel products.
Steel Authority of India Ltd has supplied 4,300 tonnes of special steel for India's indigenous navy warships INS Udaygiri' and INS Surat', an official said. The entire quantity of steel has been supplied from SAIL's Bokaro, Bhilai and Rourkela Steel Plants, he said. This is in continuation to SAIL's sustained efforts to contribute substantially in India's AatmaNirbhar Bharat' mission and to strengthen the country's efforts towards import substitution, the company said in a statement. Earlier, SAIL had supplied special quality steel for various defence projects, it added.
New-age tech firms that listed on bourses have also been struggling. Zomato hit a 52-week low of Rs 50 on Tuesday, while Paytm parent One 97 Communications fell to Rs 518 apiece on Wednesday
About 35,000 workers of state-owned SAIL, RINL and NMDC continued to boycott work on Tuesday as part the nationwide strike, affecting production at steel plants and mines.
The Kerala High Court on Monday directed the LDF administration to forthwith issue orders preventing its STAFF from abstaining from duty as part of the two-day strike
India's top steelmakers have increased rebar and HRC (Hot Rolled Coil) price by around Rs 1,500-Rs 2,000 a tonne due to rising raw material cost, reports suggest
CLOSING BELL: JSW Steel, Titan Company, SBI Life, RIL, Kotak Bank, Tata Consumer Products, Tata Steel, Nestle India, and Eicher Motors were the other notable gainers
Shares of Oil India will be in focus as the company has approved investment of Rs 6,555 crore in its subsidiary Numaligarh Refinery.
Paytm is likely to be in focus after RBI's ban on fresh onboarding of customers to its arm Paytm Payments Bank with immediate effect over the weekend.
Shares of Steel Authority of India (SAIL) may decline another 10 per cent
Its consolidated income during the quarter increased to Rs 25,398.37 crore, from Rs 19,997.31 crore earlier
Stock market LIVE: Sectorally, Nifty Auto index was the top performer now, up 1.5 per cent, followed by Nifty Private Bank, and IT indices. PSU index was the sole loser, down 0.8 per cent.
This government has allocated Rs 7.5 trillion towards capital expenditure, up 35.4 per cent higher compared to the previous year's figure of Rs 5.5 trillion.
The metal index is on the verge of breakout, if crosses 5,800 mark, another 6 per cent jump is very certain.
The technical & derivative analyst from HDFC Securities recommends buying SAIL and and Hindalco
The 341-km expressway links UP capital Lucknow with Ghazipur and has been constructed at an estimated cost of Rs 22,500 crore
Indian Energy Exchange and Apollo Pipes have announced their respective record dates for the issuance of bonus shares for eligible shareholders
Stock market LIVE: The NSE Nifty swung in a range of 174 points, and finally settled at 17,999, down 110 points