Steel Sector

Govt Announces withdrawal of 15% Export Duty on Steel

Government Announces withdrawal of 15% Export Duty on SteelThe government today withdrew the 15 per cent export duty on pig iron, iron and steel ingots, bars and rods, angles and sections. It also replaced the 15 per cent ad valorem export duty on iron ore fines. The export duty on scrap and iron ore lump remains unchanged.

The ministry also withdrew full exemption from basic customs duty on import of ferro-molybdenum and ferro-vanadium. The items will now attract basic customs duty of 5%.

Buy Jindal Steel & Power

Buy Jindal Steel & PowerStock market analysts have maintained ‘buy’ rating on Jindal Steel & Power Ltd stock with an intraday target of Rs 765.

According to them, interested traders can purchase the stock above Rs 692 with a strict stop loss of Rs 682. If the stock market remains positive, the stock pricing becomes more attractive, and reach above Rs 772.

Tata Steel net profit surges 50% to Rs. 1,788 crore

Moody's Investors Service revises Tata Steel UK's outlook to negative

Areva T&D gets contract worth 35 million Euro from Bhilai Steel Plant

Areva T&D India LimitedAreva T&D India Limited, the Indian subsidiary of AREVA France SA, has bagged a contract worth 35 million euro from Bhilai Steel Plant (BSP)1, a flagship unit of the “Steel Authority of India Ltd” (SAIL), the largest steel manufacturer in India.

This contract includes a 132kV Gas insulated substation and Air insulated substations.

In addition, it also includes the complete revamping of the existing protection & control system and feeding the new sub stations through 132KV transmission cables.

SAIL net profit rises 18%