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Tata Steel shares dipped 0.50% to Rs 167 on Thursday, retreating after a robust 6% gain in the previous session. The slight pullback occurred despite ongoing optimism in the metal sector, supported by global supply dynamics and domestic protective policies.On Wednesday, Indian metal stocks surged as investors responded to expectations of firmer global steel prices, fueled by China’s planned production cuts and India’s tariff protections.Analysts at CLSA believe steel prices are likely to strengthen, supported by seasonal demand and a broader global recovery. They highlighted China's new “anti-involution” strategy — aimed at curbing excessive competition — as a potential boon for Indian producers. The world's largest steelmaker, China, is expected to cut output by 50 million tons in 2025, an 8.5% reduction for the remainder of the year. Notably, output had already declined by 20 million tons between January and July, even as export volumes soared to record levels.Despite today’s minor pullback, Tata Steel remains near its 52-week high of Rs 170.18, reflecting solid recent momentum. Over the past year, the stock has delivered an 11% return, indicating stable performance. With a current market capitalization of Rs 2,08,599 crore, the company continues to be a key player in India’s steel industry.According to data from Trendlyne, the consensus recommendation from 31 analysts for Tata Steel is a "Buy", indicating strong positive sentiment around the stock's prospects.On the technical front, the 14-day Relative Strength Index (RSI) stands at 64.0, suggesting bullish momentum without being in overbought territory (RSI above 70 is typically considered overbought, while below 30 is oversold).Additionally, Tata Steel is showing strong technical strength by trading above all 8 key Simple Moving Averages (SMAs) — from the 5-day to the 200-day SMA — which is a bullish indicator and reflects a sustained upward trend.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Shares of Delta Corp and Nazara Technologies came under pressure, falling up to 7% on Thursday after the Goods and Services Tax (GST) Council approved a steep 40% tax on casinos, betting, and online money games, a move that threatens to weigh heavily on the country’s listed gaming and casino companies.Delta Corp shares tumbled as much as 7.2% to Rs 88.35 on the BSE, while Nazara Technologies, India’s largest listed gaming company by market capitalization, fell 1.6%.The 56th meeting of the GST Council, chaired by Finance Minister Nirmala Sitharaman, cleared a “next-generation GST reform” package that reduces the current four-rate structure to two slabs of 5% and 18%, while introducing a 40% slab for luxury and demerit goods.“For all specified actionable claims including betting, casinos, gambling, horse racing, lottery and online money gaming, GST rate of 40% will apply,” the finance ministry said in a release. The new rates will take effect from September 22.While tickets for recognised sporting events sanctioned by national and international federations will remain taxed at the standard 18% above Rs 500, and exempt below that threshold, the new 40% rate will apply to IPL games and similar high-profile events.The marathon Council meeting lasted 10.5 hours, during which the Centre and states hammered out the new tax structure.Fallout for gaming companiesThe sharper levy comes just a day after Delta Corp said it had shelved plans for a Rs 2,000–2,500 crore integrated resort-cum-casino township in Goa’s Dhargal, citing uncertainty around the GST framework.India’s leading casino operator, which runs offshore and onshore casinos in Goa and Sikkim, reported a 36.1% rise in net profit to Rs 29.4 crore in the June quarter, but EBITDA fell 16.2% year-on-year to Rs 39.6 crore.Nazara Technologies, a diversified player with interests in skill-based gaming and e-sports, also felt the heat from Thursday’s announcement, underscoring investor concerns over the broader gaming ecosystem.The GST Council said the scrapping of the 12% and 28% slabs in favour of just 5% and 18% will lower costs for consumers and streamline compliance. The government described the measures as part of Prime Minister Narendra Modi’s effort to make the indirect tax regime “efficient, equitable and growth-oriented.”Also read | Sensex rallies over 700 pts, Nifty tops 24,900; GST cuts, 4 other drivers behind today's rally(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Agriculture companies and dairy firms such as Dodla Dairy and Parag Milk Foods rose up to 7% on Thursday after the Goods and Services Tax (GST) Council announced steep cuts across fertilisers, farm machinery and dairy products in a move aimed at easing costs for farmers and consumers.Parag Milk Foods shares surged 7.4% to Rs 263.50. Meanwhile, the shares of Dodla Dairy climbed 4.5% to Rs 1,498.85 and Kaveri Seeds shares advanced 2.9% to Rs 1,219.45The 56th meeting of the GST Council, chaired by Union Finance Minister Nirmala Sitharaman, approved sweeping rate reductions for the agriculture and dairy sectors. The new rates will come into effect on September 22.As per the official statement, Ultra High Temperature (UHT) milk and paneer have been made completely tax-free, with GST reduced from 5% to zero. GST on condensed milk, butter, other fats and cheese was cut to 5% from 12%.On the farm side, GST on key fertiliser inputs such as sulphuric acid, nitric acid and ammonia has been slashed from 18% to 5%. Micronutrients covered under the Fertiliser Control Order, 1985, will also attract 5% GST.Machinery and equipment reliefTax rates on a range of agricultural machinery were reduced to 5% from 12%. These include fixed-speed diesel engines of power not exceeding 15 HP, hand pumps, nozzles for drip irrigation and sprinklers, machinery for soil preparation, harvesting and threshing, composting machines and tractors (excluding road tractors for semi-trailers of engine capacity over 1800 cc).The relief also extends to self-loading agricultural trailers and hand-propelled vehicles such as handcarts.GST on comprehensive tractor components, including rear tyres and tubes, hydraulic pumps, wheel rims, transmission housing, brake assemblies, gearboxes, radiators and other parts, was reduced from 18% to 5%.Biopesticides includedThe Council brought down GST from 12% to 5% on biopesticides including Bacillus thuringiensis variants, Trichoderma viride, Trichoderma harzianum, Pseudomonas fluorescens, Beauveria bassiana, NPV of Helicoverpa armigera, NPV of Spodoptera litura, neem-based pesticides and Cymbopogan.Broader tax simplificationThe rate cuts come amid a wider overhaul of the GST structure. The Council scrapped the 12% and 28% slabs to retain just the 5% and 18% slabs for most goods. Cement was also reclassified into the lower slab, aligning core industrial inputs with the broader goal of tax simplification.The GST Council said the measures reflect the government’s “next-generation GST reform” agenda, announced by Prime Minister Narendra Modi on August 15, to make the tax regime more efficient, equitable and growth-oriented.Also read | Small and mid-cap firms lag behind large caps in Q1 earnings show(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)