|Photo: DNA India|
Hike in export duty will constraint bauxite exports and improve raw material availability for these companies.
Also the customs duty on imported flat-rolled products of stainless steel is hiked from 5 per cent to 7.5 per cent which is a positive for steel manufacturing companies which are facing severe competition from the Chinese, Japanese and Korean steel manufacturers that were dumping their inventory in the Indian market.
Hike in custom duty will constraint this, thus benefitting local flat steel producers.
Top Picks : NALCO, Jindal Steel, SAIL
Courtesy: The Economic Times