Steel UPdate - Shares of Tata Steel rose 2.6 per cent, JSW Steel gained 2.5 per cent and Steel Authority of India rose 1.9 per cent in early trade as the ministry of steel published draft order on its website prohibiting production, sales and trading without Bureau of Indian standards (BIS) approval.
The order covers most carbon steel products and is likely to be more effective than earlier measures in containing imports for the next 6-9 months because most of the steel mills exporting to India don't have BIS approval - Motilal Oswal
The government had earlier slapped import duties on stainless steel to help local firms.
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