
Steel stocks tumble as govt imposes export duty
The government on Saturday hiked export duty on a range of finished steel products and iron ore.
The government on Saturday hiked export duty on a range of finished steel products and iron ore.
Tata Steel Europe's EBITDA per tonne of steel has shot up nearly four times to ₹18,135 in January-March quarter of 2022.
India's largest steelmaker clocked a consolidated net profit of ₹41,749 crore in the last fiscal.
Shares of Tata Steel rose nearly 3% in opening deals after its board proposed a 10-for-1 split of the steel major’s equity stocks.
The BSE Sensex declined as much as 1,290 points to hit a low of 57,047 while the NSE Nifty fell as much as 347 points to 17,129.
Shares of Tata Steel gained 3% in early deals on Monday after the steelmaker unveiled a plan to sub-divide its equity shares on May 3, 2022.
The BSE Sensex and the NSE Nifty are set to rise at the open on Tuesday, following strong cues from Asian peers and firm trends on the SGX Nifty futures.
This multibagger stock has rallied 79% over the past one year, surging from its 52-week low of ₹297.25 on March 25, 2021, to ₹532.50 in intraday trade today.
The BSE Sensex and the NSE Nifty are set to open in green, mirroring strong cues from Asia and Wall Street after the U.S. central bank raised interest rates.
The recovery on Dalal Street has extended to the third session on Thursday, thanks to positive state election results and a retreat in commodity prices amid high-level talks between Russia and Ukraine