Buzzing metals: SAIL gains over 10 per cent, Tata Steel jumps 6 per cent, Hindustan Copper up by 5 per cent

The shares of metal companies gained as a result of positive announcements in the Budget 2021, which was aimed towards uplifting the domestic steel & metals industry.  

The government announced the cutting of duty on copper scrap to 2.5 per cent from the previous 5 per cent. Also, it declared exempting duty on steel scrap up to March 2022.  

Additionally, the announcement also included revoking of anti-dumping duty (ADD) and countervailing duty (CVD) on certain steel products.  

S&P BSE Metal index was up by around 4.96 per cent  

Following is a list of some of the companies that have their business operations in metals, which gained reacting to the announcements: