India's steel stocks jump on tariff to curb cheap imports

Core Viewpoint - Shares of major steel companies in India experienced a significant increase, ranging from 2% to 4.5%, following the imposition of import tariffs on certain steel products by the Indian government to limit low-cost imports from China [1] Group 1: Market Reaction - Major steel companies in India saw their stock prices rise between 2% and 4.5% on Wednesday [1] - The increase in share prices occurred a day after the government announced new import tariffs [1] Group 2: Government Action - The Indian government has implemented import tariffs on specific steel products [1] - The primary objective of these tariffs is to curb the influx of inexpensive steel shipments from China [1]