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Metal Stocks
Hindustan Zinc has fixed March 29, 2023 as the record date for the purpose of payment of fourth interim dividend worth Rs 26 per share.
Multiple factors such as containing the global banking crises and China reopening will determine how rocky or smooth is the road ahead
LMEL on March 16, converted and allotted the 0% 60 million OFCD's in to 60 million equity shares, representing 11.89% in the total voting equity share capital of LMEL to Sunflag Iron.
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Hindustan Copper and Vedanta may fall up to 19 per cent due to their weak chart structures.
JSHL Board approved merger of the company into Jindal Stainless with a swap ratio of 1: 1.95
This has driven a wedge between companies' earnings and their market capitalisation
The company said that the revenue growth in Q3FY23 was driven by volume and price growth in both sponge iron and iron ore
From the Sensex pack, Axis Bank, NTPC, HDFC, HDFC Bank, Mahindra & Mahindra, ICICI Bank, Reliance Industries and Maruti were among the major laggards
The change in stance comes after almost a year of cautionary view. The Nifty Metal index advanced over 2 per cent while shares of Tata Steel surged nearly 6 per cent
Benchmark stock indices Sensex and Nifty closed higher for a second straight day on Tuesday on gains in banking, IT and metal shares following a firm trend in the global markets. The 30-share BSE Sensex jumped 361.01 points or 0.60 per cent to settle at 60,927.43. During the day, it rallied 420.26 points or 0.69 per cent to 60,986.68. The broader NSE Nifty climbed 117.70 points or 0.65 per cent to end at 18,132.30. From the Sensex pack, Tata Steel, Tata Motors, Larsen & Toubro, Asian Paints, Wipro, Bajaj Finance, ICICI Bank, Tech Mahindra and Titan were the major winners. Hindustan Unilever, ITC, Mahindra & Mahindra and Nestle were the laggards. "With strong support from global peers, the domestic market is attempting to recoup its previous week's losses. Metal stocks shone amid hopes of a demand revival in China on reports of loosening COVID restrictions. This, along with fears over supply disruptions from winter storms in the US, resulted in oil prices rising," said Vinod ...
The reopening of the Chinese economy could brighten the outlook for global growth and commodity demand
The Nifty Metal index seems to be eyeing a new historic peak at 6,900-level; Thus, select stocks from this space could rally up to 15 per cent on their respective breakouts.
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India has decided to remove export duty on steel, and steel making raw material. While industry has welcomed it, analysts do not see any benefit in the near term. How will related stocks be impacted?
Analysts perceive the roll-back of export duties on steel as a valuation re-rating event, rather than an earnings upgrade trigger
Bright future for sector could be a reason, say experts
The stock of state-owned electric utilities company traded at its highest level since February 2018.
Shares of the to-be merged subsidiaries, Tata Steel Long Products, Tinplate Company of India, Tata Metaliks, and TRF declined 2 - 9 per cent each.
Vedanta on Tuesday inked a pact with the Gujarat government under which the company, along with Taiwan's Foxconn, will jointly invest $19.5 billion to set up a semiconductor project in the state.