Create stable, long-term investment portfolio with strong, consistent stocks.
Start Research-backed Investing ...Now.
Steel stocks are trading higher as Steel Ministry pitched for certain changes in norms used for imposing anti-dumping duties.
Steel Authority of India is currently trading at Rs. 50.90, up by 1.35 points or 2.72 % from its previous closing of Rs. 49.55 on the BSE. The scrip opened at Rs. 49.80 and has touched a high and low of Rs. 51.50 and Rs. 49.50 respectively. So far 665821 shares were traded on the counter.
Tata Steel is currently trading at Rs. 505.70, up by 12.90 points or 2.62% from its previous closing of Rs. 492.80 on the BSE. The scrip opened at Rs. 493.00 and has touched a high and low of Rs. 508.00 and Rs. 491.00 respectively. So far 385857 shares were traded on the counter.
JSW Steel is currently trading at Rs. 275.05, up by 1.75 points or 0.64% from its previous closing of Rs. 273.30 on the BSE. The scrip opened at Rs. 275.00 and has touched a high and low of Rs. 277.30 and Rs. 273.20 respectively. So far 522805 shares were traded on the counter.
The Steel Ministry has recommended its commerce counterpart to bring certain changes in norms used for imposing anti-dumping duties in order to making them more effective for protecting domestic players in the sector against cheap imports. The government has imposed anti-dumping duty on several steel products from countries including China.
However, in certain cases, the imposition of duties was not able to contain dumping of products and the government had to initiate anti-circumvention investigations. The ministry has also highlighted issues related to impact of free trade agreements being signed by India with its trading partners, including Japan and South Korea.
Steel industry wants the Commerce Ministry to exclude steel from the purview of the proposed mega free trade agreement - The Regional Comprehensive Economic Partnership (RCEP). China is a part of this agreement and the industry is of the view that cut in customs duties on steel would lead to flooding of products into India from the neighbouring country, significantly impacting domestic manufacturing.
| Company Name | CMP |
|---|---|
| JSW Steel | 851.30 |
| Tata Steel | 161.10 |
| SAIL | 152.25 |
| Jindal Stainless | 723.60 |
| APL Apollo Tubes | 1571.55 |
| View more.. | |
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
Buy quality Stocks when they are available at reasonable prices and supported by an upward price trend and Sell when they are Overvalued using the Decizen Rating System. Covers 3500+ stocks
Download APP
