Daily trending news …
India implements a three-year safeguard duty on selected steel imports to protect domestic producers from cheaper foreign supplies, with major stock gains seen in Tata Steel, JSW Steel, and Jindal Steel. The measure aims to stabilise domestic prices while limiting adverse effects from non-mixed steel imports and certain specialties.
The article reviews Jefferies’ positive outlook for Indian steel stocks, emphasising buy recommendations for Tata Steel, JSW Steel, Shyam Metalics, Coal India and Jindal Stainless, with expected profit growth through 2028 amid policy and market factors.
Indian-origin steel billionaire Lakshmi Mittal, once Britain’s richest man for eight years, is leaving the UK permanently due to Labour government’s plan to scrap non-dom status and impose up to 40% inheritance tax on global assets. Valued at £15.4 billion in 2025, Mittal will now split time between zero-inheritance-tax Dubai and low-tax Switzerland.
Excelsaftech and Kallart Steel are set to launch their IPOs on November 19, 2025. Excelsaftech aims to raise ₹500 crore while Kallart Steel targets ₹37.50 crore, providing fresh investment opportunities for investors.
