Nomura said Indian steel mills cut HRC (hot rolled coil) prices for August by ₹3,500 per tonne to ₹58,500 from the previous month and CRC (cold rolled coil) by ₹2,500 per tonne to ₹66,000. The government in May had slapped an export duty of 15% on various steel products and imposed a 45% duty on iron ore pellets to rein in the prices.
Hot Stocks: Brokerages view on Vedanta, HUL, Dabur and Avalon Technologies
Emkay initiated coverage on Dabur India and InCred also initiated coverage on the EMS industry.