Steel stocks under pressure; Tata Steel, JSPL, SAIL down 4%

Shares of steel companies were under pressure with Tata Steel, Jindal Steel & Power (JSPL) and Steel Authority of India (SAIL) down more than 4% on the National Stock Exchange (NSE) after US President Donald Trump imposed tariffs of 10% and 25% on imports of steel and aluminium respectively on March 8th.

At 02:45 pm; Nifty Metal index, the largest loser among sectoral indices, was down 1.5% against 0.1% rise in the Nifty 50 index.


Meanwhile, Tata Steel slipped nearly six-month low at Rs 607, down 4% on the BSE in intra-day trade, extending its past two days 4% decline after the company on Wednesday said that it has emerged as the top bidder for debt-laden Bhushan Steel.

In past one week, the stock has fallen 10% against 1.8% decline in the S&P BSE Sensex. The stock is currently trading at its lowest level since September 25, 201.

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