21 Nov 2025 | 3 Mins Read
Nifty Metal index drops 1.5% over steel import concerns
Flipitmoney
The Nifty Metal index fell 1.4% on Friday, led by Hindalco, which dropped 2% to Rs 783.45 due to a November fire at its Novelis plant in Oswego, New York, impacting 60% of Hindalco's revenue. Tata Steel and JSW Steel fell 1.3% and 1.2% respectively, while the government's exemptions for steel imports pressure domestic prices.