Steel stocks rally as govt extends MIP on 66 steel products

Key points

• Stocks like Hindustan Zinc, Hindalco, Jindal Steel, JSW Steel and Tata Steel gained over 1 percent from previous close.
• HZ H JSP HZ NSE/BSE Select NSE LIVE BSE LIVE Day High Day Low Volume (NSE) More H NSE/BSE Select NSE LIVE BSE LIVE Day High Day Low Volume (NSE) More JSP NSE/BSE Select NSE LIVE BSE LIVE Day High Day Low Volume (NSE) More × Shares of steel stocks rallied on government boosters as minimum import price (MIP) on 66 steel products is extended by another two months to protect the industry against cheap imports.
• The 66 products include semi-finished products of iron or non-alloyed steel, flat rolled products of different widths, bars and rods.
• Stocks like Hindustan Zinc, Hindalco, Jindal Steel, JSW Steel and Tata Steel gained over 1 percent from previous close.
• In August this year, the Directorate General of Foreign Trade (DGFT) had extended MIP on the...