Steel stocks have gone down this morning, following a delay in government's decision to impose a safeguard duty on intermediate products, hot rolled coils. The government expects steel companies to lower prices before imposing the duty.
Tata Steel has slumped 3.5% to Rs 263. Around 724,276 shares of the company have been traded on the BSE today.
SAIL has shed 3.5% to Rs 116. The counter has seen trades of around 494,267 shares so far.
JSW Steel has tumbled 5% to Rs 402. Bhushan Steel and Ispat Industries have declined 4.5% each to Rs 636 and Rs 15, respectively.
Welspun Gujarat has dropped 1% to Rs 108. Jindal Steel, however, is flat at Rs 1,575.
Source : Business Standard