Tata Steel, NMDC gain up to 9% on reports Govt may ease captive mine rules

Besides, ease in trade tensions between the United States and China lifted market sentiment.

Metal stocks such as Tata Steel, Jindal Steel, SAIL and JSW Steel advanced up to 9.5 per cent on the NSE on Tuesday on reports government could allow integrated steel producers to divert a portion of iron ore from their captive mines for use by other joint venture entities. That apart, optimism around US-China trade deal also boosted investor sentiment.

"As per the new reform initiative proposed for mining, the Centre would permit steel producers to use an identified portion of iron ore from their captive mines allotted prior to the auction regime for use by any other of their