A decline in steel prices can imply de-rating of steel stocks
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Update time : 2022-05-25 21:38:31
The measures announced by the government last week come as follow-up supply-side measures to curb inflation after the out-of-turn repo rate and CRR hikes initiated by the RBI earlier this month.
India’s CPI inflation and core inflation have risen to 7.8% and 7%, respectively for April 2022 and WPI inflation, denoting the
persistent
NSE -5.66 % cost pressure, has climbed up to 15%, averaging 14% in the past 6 months.
The roll-back of central excise duty on petrol and diesel, imposition of export duty on steel, and the earlier decision to ban the export of wheat are a clear reflection of the growth implications of rising costs.
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