The Government has decided to impose an anti dumping duty of 557 dollar/ton on Steel import. Initially, this duty will be imposed only on the import from 6 countries including China, Korea and Japan. This news will give big movement to the Steel manufacturing companies. Steel companies like JSW Steel and Kalyani Steels -have already gained appreciative hike in the morning, but are expected to do more today.
Petroleum Ministry has suggested the Finance Ministry to reduce the oil cess and oil cess may be reduced from 20 percent to 10 percent. Oil company ONGC took a small jump after the announcement. This reduction will give big hike to the oil companies. Greenply Industries has got approval to publish the shares upto 100 crore dollar through QIP.
Electronic Security Product company Zicom will give electronic security to the Carnival Cinemas. This security will be availed for the 324 screens of Carnival Cinemas. Zicom gained 2.76% hike today after the announcement.
Free Intraday Tips for Today : 3rd August
Buy JSW Steel above: 1701.56 Targets: 1711.03 — 1721.39 — 1731.77 Stoploss : 1691.27
Buy Kalyani Steels above: 280.56 Targets: 284.62 — 288.86 — 293.12 Stoploss : 276.39
Buy ONGC above: 225.00 Targets: 228.65 — 232.45 — 236.27 Stoploss : 221.27
Buy Zicom above: 43.75 Targets: 43.87 — 44.01 — 44.15 — 44.28 Stoploss : 43.62