GAGA Share Market News

[hfe_template id='11223'] [ad_1] Metal stocks have staged a strong comeback over the past month, rising by up to 17%, while the sector has remained a top draw for investors, outperforming the Nifty by over 10%, driven by the ongoing slide in the dollar index (DXY). However, the real test of sustainability begins now, with flat 25% tariffs on steel and aluminum, imposed by US President Donald Trump "without exceptions or exemptions," set to take effect on Wednesday, March 12. On Tuesday, the Nifty Metal index fell 1.5% in early trade, hitting the day's low of 8,715.15. Individually, stocks fell over 3%, with the sharpest declines seen in NMDC, Hindustan Copper, and Steel Authority of India (SAIL). Trump's ever-shifting tariff policies have created uncertainty, said Prathamesh Mallya, DVP-Research, Non-Agri Commodities and Currencies at Angel One. Although the steel and aluminum tariffs are scheduled to take effect on March 12, he has postponed the new 25...

[hfe_template id='11223'] [ad_1] Shares of steel companies like Steel Authority of India (SAIL), Tata Steel, JSW Steel and Jindal Steel & Power rallied up to 3.2% on the BSE as India has initiated a probe into an alleged increase in imports of certain steel flat products into the country. This was followed by a complaint filed by the Indian Steel Association. Shares of JSW Steel rallied 3.2% to their day’s high of Rs 947.95 while Jindal Steel & Power shares jumped 2.3% to an intraday high of Rs 929 on the BSE. Meanwhile, the shares of Tata Steel and SAIL increased by 2% each. The applicant has alleged that there is a “recent, sudden, sharp and significant” increase in the volume of imports, which has caused “significant” injury to the domestic industry in India, according to the notification. In a notification, the Directorate General of Trade Remedies (DGTR) said that it has started the investigation into imports of Non-Alloy and Alloy Steel Flat Products used i...