News for Steel Authority of India Limited (SAIL.BO)

Indian stock markets came under pressure on Friday as selling by Foreign Portfolio Investors (FPIs) weighed on investor sentiment.

Steel Authority of India Limited (SAIL) has emerged as the largest steel supplier for the Zojila Tunnel project in Jammu and Kashmir, contributing over 31,000 tonnes of steel. This ambitious project, once completed in 2027, will establish all-weather connectivity between Srinagar and Leh, solidifying SAIL's role in India's infrastructure development.

India's first electric truck scheme offers incentives for cleaner freight mobility, boosting local manufacturing and green jobs.

Government launches PM E-DRIVE scheme for electric trucks, offering incentives for buyers to promote sustainable freight mobility.

Electric Truck Scheme: The Indian government has announced a ₹500 crore incentive scheme to promote the adoption of electric trucks under the PM E-DRIVE initiative, targeting reduced greenhouse gas emissions and improved air quality. Key sectors expected to benefit include logistics and cement industries, with major manufacturers like Tata Motors and Ashok Leyland already involved.

Despite repeated regulatory reminders, these companies await clearances from their respective ministries, delaying crucial appointments and inviting penalties from stock exchanges.

Major Asian indices saw strong gains, with Japans Nikkei soaring 711 points (nearly 2%) during intraday trading. Hong Kongs Hang Seng rose 300 points (1.3%), Chinas Shanghai Composite gained 0.7% around 1 pm IST, and South Koreas Kospi advanced 2%.

Located 260 km north-west of Bengaluru in Karnataka, the VISL plant is currently a part of Steel Authority of India Ltd (SAIL), the largest PSE steel-maker in the country

Large and midcap indices delivered similar 1-year returns, with Nifty Midcap 100 slightly outperforming Nifty 100. Smallcaps underperformed due to valuation concerns. FIIs favored largecaps amid expensive mid- and smallcap valuations, driving market preference toward stability.

The Centre is considering withdrawing seven mineral blocks from public sector companies due to operational delays exceeding five years post-allocation, some dating back to 2004. SAIL, FAGMIL, MOIL, OMC, and WBMD&TCL are among the affected entities. This decision follows a review of nominated mineral blocks, with some companies still in the mining lease execution process.

The Nifty Metal index jumped 5.9% - its best single-day performance in three years. Hindustan Copper soared 10%, emerging as the top gainer of the day. Steel Authority of India Limited (SAIL), National Aluminium Company (Nalco), Tata Steel and JSW Steel, which gained 5-8% each.

U.S. President Donald Trump has, on several occasions, referred to India as the "tariff king," but now New Delhi stands ready to abdicate its throne.

India on Monday imposed a 12 per cent provisional safeguard duty for 200 days on five steel product categories, including hot rolled coils, sheets and plates, to protect domestic players from surge in imports. The decision follows a recommendation for the same by the Commerce Ministry's investigation arm DGTR. Last month, the DGTR suggested to impose the duty.

Indian equity markets suffered a brutal decline on Monday extending their losses for a third consecutive session, amid a global rout triggered by escalating trade tensions. The Nifty Midcap 100 plummeted 7.26% to 46,966.60—its lowest level in a month—as panic gripped investors across sectors following a steep sell-off in global equities.

The US has exempted Indian steel and aluminium from additional reciprocal tariffs, easing concerns for Indias metal industry. However, a 10% tariff on all imports will take effect from April 5, 2025. With EU exports to the US becoming unviable, India may face steel dumping from China, South Korea, and Japan. Indias DGTR has proposed a 12% safeguard duty.

Indian benchmark indices show signs of recovery, with sectors like FMCG, Consumer Durables, Metal, and Oil & Gas looking bullish.

India's steel imports could halve by FY26, as the government considers a 12% provisional safeguard duty on some steel products. This measure is anticipated to boost domestic manufacturers' profitability and capacity utilization, with imports expected to decline significantly and domestic demand growing steadily.

The Commerce Ministry’s investigation arm Directorate General of Trade Remedies (DGTR) has recommended imposition of a 12% provisional safeguard duty for 200 days on certain steel products with an aim to protect domestic players from surge in imports.

Steel Authority of India (SAIL) and NMDC Steel shares saw up to an 8.3% surge on the BSE after the Directorate General of Trade Remedies (DGTR) recommended a 12% safeguard duty on specific steel imports. This temporary measure aims to support domestic producers against unfair trade practices.