SAIL among other steel stocks rally up to 3% as India begins safeguard probe for steel imports

India launched an investigation into a potential surge in steel flat product imports following a complaint by the Indian Steel Association. The association, representing major steel producers, alleges harm to the domestic industry and seeks safeguard duties. The probe covers various steel products and will examine imports from October 2023 to September 2024, with a possible 20% safeguard duty considered.