The steel industry has seen renewed investor interest on Dalal Street with the central government earlier imposing a 12% safeguard duty to protect the local industry from cheaper imports from east Asian countries. And recent media reports highlight that India’s steel imports were 4.9 million tonnes in the first half of FY26 compared to 5.78 million tonnes a year earlier.

Steel stocks like SAIL and JSW Steel are trading close to their respective 52-week highs. And while price realisations were under pressure in the second quarter of FY26, cost management was key for large steel players.

Realisations squeeze SAIL, JSW manages costs

SAIL’s standalone revenue from operations grew 8.2% y-o-y to Rs 26,703.9 crore in the September 2025 quarter. The New Delhi-based company sold 4.9 millio

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