Steel Stocks Soar 2-4% as Safeguard Duty Boosts Sentiment; Tata Steel, JSW Lead Gains

• Major steel stocks like Tata Steel, JSW Steel, and Jindal Steel surged 2-4% on Wednesday.
• The rally followed the government's announcement of a three-year safeguard duty (12%, 11.5%, 11%) on select steel imports.
• This duty aims to protect domestic producers from low-priced overseas inflows, boosting pricing expectations.
• Tata Steel gained 2.2%, JSW Steel 3.3%, and Jindal Steel 3.6%, continuing a strong year for the sector.
• The tariff applies to non-alloy and alloy flat steel products from China, Vietnam, and Nepal, excluding specialty steel.

Why It Matters: Government's new safeguard duty on steel imports sparks a 2-4% jump in steel stocks, boosting domestic producers.