Shares of five steel makers rose by 0.12% to 3.15% at 11:15 IST on BSE on reports the government will impose temporary anti-dumping duty on some steel products.
Bhushan Steel (up 3.15%), JSW Steel (up 1.30%), Steel Authority of India (up 0.76%), Jindal Steel & Power (up 0.24%) and Tata Steel (up 0.12%), edged higher.
The S&P BSE Sensex was down 188.40 points, or 0.67% at 27,793.31.
According to reports, the government will impose a provisional anti-dumping duty on imports of hot-rolled steel products. In its recommendations, the the Directorate General of Anti-Dumping & Allied Duties (DGAD) has reportedly recommended anti-dumping duty on steel products from China, Japan, South Korea, Russia, Brazil and Indonesia. The anti-dumping duty will come into effect after the government formally notifies the tax.
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