Steel stocks melts in India
April 2nd, 2008
Steel stocks melts in India
Due to growing inflation and the input cost the steel companies are feel the heat of not increase prices.
Even the Government has asked the steel makers not to increase the prices.
To contain the steel prices the government has already announced the many export curbs and the also cutting the import duties.
On Tuesday the government has asked the steel companies to cut the prices by 10-20% in a month.
Government may also cut the excise on steel form present 14% to 8%
Due such major changes in the government policy the steel major like TATA STEEL, SAIL stocks have come down as per experts the steel stock may under perform for some time.