Steel stocks shine on cabinet approval of National Steel Policy
Steel stocks are gaining on Thursday trading session even as the broader markets trade flat with a positive bias.
SAIL, JSW steel and Jindal Steel are all up by in the range of 0.50% to 0.70% in the first half of the trading session on Thursday.bonaz capital
The BSE metal index though is trading in red, down by 0.62% at 11134.
With an aim to make the Indian steel industry globally competitive the Union Cabinet has decided to give preference to domestically manufactured iron and steel products in government-sponsored projects. The GOI has also approved a new steel policy that aims to triple the production capacity over next 13 years.