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BUZZ-India steel shares surge; govt makes local steel must for infra projects
May 4, 2017 / 5:54 AM / 5 months ago

BUZZ-India steel shares surge; govt makes local steel must for infra projects

** JSW Steel Ltd, Steel Authority of India Ltd , Jindal Steel and Power Ltd, Jindal Stainless Ltd, Visa Steel Ltd gain between 2.2 pct and 19.9 pct

** Shares rise as India’s cabinet on Wednesday approved proposal to make the use of locally produced steel mandatory for government infrastructure projects

** Govt also cleared National Steel Policy, which seeks to outline a roadmap to increase country’s annual steel production to 300 mln tonnes by 2025

** Visa Steel up as much as 19.9 pct to its highest since June 13, 2013; stock among top pct gainers on NSE

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