DGTR’s proposal is for the imposition of a 12% safeguard duty on flat steel
products ad valorem for 200 days, pending final investigation. The imposition has to be officially approved and notified by the Finance Ministry.
This is the second day of gains for shares of NMDC Steel, having snaped a five-day losing streak on Tuesday.
NMDC Steel is the demerged entity of state-run NMDC Ltd. and operates a 3 MTPA steel plant at Nagarnar in Chhattisgarh. It mainly caters to the hot rolled market with the production of hot rolled steel, low carbon steel, HSLA & Dual Phase Steel and API quality steel.NMDC Steel does not have any analyst coverage currently.
NMDC Steel shares started trading on the bourses after the demerger in February 2023 at a price of ₹37.75 per share. The stock has halved from its recent 52-week high of ₹68.95 and is currently trading near its 52-week low.
Shares of NMDC Steel are currently trading 7% higher at ₹35.9.
Also Read: Steel Safeguard Duty Recommendation: Analysts suggest the stocks to bet on
First Published: Mar 19, 2025 10:08 am IS
