During the said quarter, the company saw its expenses soaring to Rs 1,504.70 crore against Rs 1,134.12 crore earlier.
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Union Budget 2021 | Steel stocks trade mixed as government cuts customs duty
Finance Minister Nirmala Sitharaman announced a 7.5 percent reduction in customs duty on steel. February 01, 2021 / 01:11 PM IST
Shares of steel-manufacturer traded mixed after Finance Minister Nirmala Sitharaman announced a reduction in customs duty on steel in her Budget speech on February 1.
Shares of Jindal Stainless, JSW Ispat, Mahamaya Steel, Scan Steels and Narayani Steels were trading in the red, falling up to 4 percent. However, shares of Tata Steel, JSW Steel, SAIL and Mishra Dhatu traded in the green.
Customs duty on steel has been reduced to 7.5 percent. Besides, in order to provide relief to MSMEs and recyclers, steel scrap duty has been removed.