JSW Steel Ltd.

Steel stocks were trading with traction on the bourses, as the government in order to protect domestic industries from cheap imports, again extended the minimum import price (MIP) on 66 steel products for a period of two months. The 66 products include semi-finished products of iron or non-alloyed steel, flat-rolled products of different widths, bars and rods.

JSW Steel is currently trading at Rs. 1792.55, up by 8.05 points or 0.45% from its previous closing of Rs. 1784.50 on the BSE. The scrip opened at Rs. 1800.00 and has touched a high and low of Rs. 1801.00 and Rs. 1778.00 respectively. So far 29750 shares were traded on the counter.

Tata Steel is currently trading at Rs. 392.60, up by 2.50 points or 0.64% from its previous closing of Rs. 390.10 on the BSE. The scrip opened at Rs. 395.00 and has touched a high and low of Rs. 396.50 and Rs. 390.20 respectively. So far 361997 shares were traded on the counter.

Jindal Steel & Power is currently trading at Rs. 83.95, up by 0.90 points or 1.08% from its previous closing of Rs. 83.05 on the BSE. The scrip opened at Rs. 84.40 and has touched a high and low of Rs. 85.20 and Rs. 83.40 respectively. So far 902339 shares were traded on the counter.

To guard domestic steel producers against cheap in-bound shipments, the government in February had imposed MIP, ranging between $341 to $752 per tonne, on 173 steel products for a period of six months.

The government in August decided to extend the minimum import price (MIP) on 66 steel products for a period of two months as against 173 items earlier.

Steel makers had asked the government to extend minimum import price (MIP) on certain products, saying its imposition has marginally improved the industry's viability after a long period of subdued prices.