Buzzing metals: SAIL gains over 10 per cent, Tata Steel jumps 6 per cent, Hindustan Copper up by 5 per cent

Geyatee Deshpande
/ Categories: Trending, DSIJ News
Buzzing metals: SAIL gains over 10 per cent, Tata Steel jumps 6 per cent, Hindustan Copper up by 5 per cent

The shares of metal companies gained as a result of positive announcements in the Budget 2021, which was aimed towards uplifting the domestic steel & metals industry.  

The government announced the cutting of duty on copper scrap to 2.5 per cent from the previous 5 per cent. Also, it declared exempting duty on steel scrap up to March 2022.  

Additionally, the announcement also included revoking of anti-dumping duty (ADD) and countervailing duty (CVD) on certain steel products.  

S&P BSE Metal index was up by around 4.96 per cent  

Following is a list of some of the companies that have their business operations in metals, which gained reacting to the announcements:  

Company Name  

Change (per cent)  

LTP (Rs)  

Steel Authority of India Ltd (SAIL)  

10.42  

63.60  

Hindalco Industries  

6.97  

241.40  

Vedanta  

6.39  

171.50  

Tata Steel  

5.80  

636.00  

Jindal Steel & Power  

5.35  

275.65  

Hindustan Zinc  

4.19  

285.85  

JSW Steel  

3.03  

379.15  

National Aluminium Company 

2.71  

49.20  

Coal India  

2.34  

129.00  

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