Steel stocks gain as govt extends import duty on hot-rolled flat products
The government has extended import duty on hot-rolled flat products till March 2018
SI Reporter Mumbai Shares of select steel companies were trading over 1% higher on the Bombay Stock Exchange after the Directorate General of Safeguards in the Central Board of Excise and Customs has recommended extending the duty on hot-rolled flat products of non-alloy and other alloy steel in coils of a width of 600 mm or more until March 2018.
Its notification on Wednesday said increased imports of the product had caused serious injury to domestic producers and the recommendation was in the public interest.
(Click here for the full report) Shares of primary producers such as JSW Steel, Tata Steel, Jindal Steel & Power,Steel Authority of India were up 1.2%-1.6% each.
 "Steel stocks gain as govt extends import duty on hot-rolled flat products")
