HomeNewsBusinessStocksMIP on steel products to aid the ailing sector; like JSW Steel
Trending Topics

MIP on steel products to aid the ailing sector; like JSW Steel

The government is expected to notify minimum import prices (MIP) on certain steel products. The government could levy USD 360 per tonne on semi-finished slabs and USD 450 per tonne on hot rolled steel products, say sources.

February 05, 2016 / 14:58 IST
Story continues below Advertisement

Your browser doesn't support HTML5 video.

According to sources, the government is expected to notify minimum import prices (MIP) on certain steel products. The government could levy USD 360 per tonne on semi-finished slabs and USD 450 per tonne on hot rolled steel products.Chintan Mehta of Samadhi Securities in an interview to CNBC-TV18 spoke the positive impact of this on the steel producers like JSW Steel, Tata Steel, JSPL etc.His preferred pick from the pack is JSW Steel on back of growth in volumes and in case steel prices improve even marginally, the stock is likely to trade around 5-5.5 times EV to EBITDA FY17 or mid FY18. He also spoke about his expectations from Tata Steel post the disappointing Q3 numbers. He is not bullish on Tata Steel.For more, watch video

first published: Feb 5, 2016 02:09 pm

Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!