Top metal stocks were under extreme pressure on Monday following the  government's decision to impose export duties on steel products.

The Nifty Metal index corrected more than 7% in the early trade as JSW Steel, Tata Steel hit the lower circuits

while the state-run Steel Authority of India (SAIL) tanked over 10 % to hit 52-week low.  Hindalco also dropped more than 5%.

At 11 AM, Tata Steel share price was down by more than 11% to trade at Rs 1,039 on the NSE.

JSW Steel crashed over 12% to hit 52-week low of Rs 554. Likewise, SAIL was trading at Rs 74 after crashing by more than 9.50%.

Metal stocks are already facing the heat due to geopolitical tensions  and Nifty Metal has corrected over 15% in the last one month.