1 week Ago By Moneycontrol
Metal shares were the flavour today, emerging as the top sectoral gainer as the global tariff war fears subsided after the US President Donald Trump announced a 90-day pause. Additionally, Tata Steel's news to transform its Netherlands operations also added positivity to the momentum in the index. The Nifty Metal index climbed 4.
44 percent - its best gain since March 5, 2025 when the index advanced over 4 percent. Lloyds Metals And Energy was top gainer on the index, rising 6.81 percent to an intraday high of Rs 1,230 per share on the NSE.
Tata Steel followed closely, gaining 5.91 percent to a high of Rs 134.7 on the back of its transformation plans in Netherlands.
Ajit Mishra, Senior Vice President at Religare Broking, noted "A relief recovery in metals alongside with other key sectors was witnessed, in response to the deferred tariff news. Besides, Tata Steel's news to transform its Netherlands operations is also adding to the positivity." Tata Steel Nederland will slash around 1,600 jobs in management and support functions as part of a sweeping transformation plan aimed at improving efficiency and preparing for a green steel future.
“This transformation is a building block towards the future,” said T. V. Narendran, CEO and MD of Tata Steel and Chairman of the Supervisory Board of Tata Steel Nederland.
“We want to ensure Tata Steel Nederland regains its position as one of the most efficient steelmakers in Europe while taking definitive steps toward sustainability.” The company believes these changes will strengthen its operating and financial profile, enabling it to invest in the future and remain competitive in a rapidly evolving industry. Tata Steel to transform operations in Netherlands, 1,600 jobs to disappear Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management.
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