Steel Authority of India Ltd or SAIL’s stock started the trading session with a gain of 2.54 per cent today at Rs 118.95 against the previous close of Rs 116.
Mumbai: Steel stocks are in action on Tuesday, i.e. on April 22, 2025, after the government imposed a 12 per cent provisional safeguard duty for 200 days on five steel product categories. The products on which this duty has been imposed include rolled coils, sheets and plates. According to the government, the duty has been imposed to protect domestic players from a surge in imports. As a result, stocks like Tata Steel, JSW Steel, Jindal Steel and Steel Authority of India (SAIL) gained in the early trade.
Shares of Tata Steel opened at Rs 142.10 with a gain of 2.08 per cent from the previous close of Rs 139.20 on the BSE. It gained further to touch the high of Rs 142.85 – a surge of 2.62 per cent. The counter has been gaining for the last six days and has given a 10.26 per cent return in the period.
Similarly, shares of Jindal Steel & Power Ltd advanced 1.89 per cent today. The scrip started the session at Rs 191.95 against the previous close of Rs 908. It jumped further to touch the intraday high of Rs 923.20. Last seen, it was trading at Rs 913.80 on the BSE.
Steel Authority of India Ltd or SAIL’s stock started the trading session with a gain of 2.54 per cent today at Rs 118.95 against the previous close of Rs 116. It touched an intraday high of Rs 118.95.
Shares of JSW Steel jumped 2.45 per cent on the BSE.
Which Shipment Will Attract Safeguard Duty?
The government has set the import prices between USD 675 per tonne to USD 964 per tonne for the five steel product categories. Any shipment imported below these import prices would attract the safeguard duty.
The safeguard duty shall not be imposed on the product categories when imported into India at or above the specified import price on CIF (cost insurance freight) basis, according to the notification.
