Metal stocks plunge as Supreme Court allows States to collect dues, levy tax
Metals and mining stocks slumped in Wednesday’s trade after the Supreme Court ruled that states can levy tax and royalty on minerals, apart from Central duties, and collect past dues. Stocks such as Tata Steel, NMDC and Vedanta fell sharply. At 12.14 pm, Nifty metal declined by 1.15 per cent to trade at 8,854.50. The…