The third of the five-part series looks at pick-up in metal sector demand & prices
Despite the fall in the Nifty Metal index on Friday, there still are some stock-specific opportunities which you can capitalise on. Here are a few trading ideas.
The demand ranges from financial support to tide over liquidity issues to logistics and trade policy support
Doom sentiment in financial markets has hit crypto currencies. Bitcoin fell $1,000 in 15 minutes to trade at $6,000 level
Prices of agricultural produce, metals, energy and industrial raw materials have fallen 5 per cent to 20 per cent in the last two weeks.
Steel, iron ore firms gain pricing power, hope for demand revival in base metals
Tata Steel has witnessed "Death Cross" pattern on the weekly chart but RSI and MACD are trading with a positive crossover.
The companies' combined net profit declined by 10.1 per cent yoy during June '19 quarter against 26.2 per cent yoy growth a year ago
Duty from finished metals imported from ASEAN is lower than metallic scrap
According to news reports, CLSA has cut FY20-21 earnings per share (EPS) estimates by 9-38 per cent factoring in lower commodity prices and stronger rupee.
The price movements have been driven to a large extent by perceptions that global growth will get slower in 2019
Hindalco, Jindal Steel & Power, JSW Steel and Vedanta from the metal index were up 1% to 5%
The copper products manufacturer also plans to foray into the defence and mint industries
New plants will add 25,000 tonnes of fused minerals, with potential sales of about $ 30 million
In 2017, metal index rallied 20% against 9.5% rise in Nifty 50 index till Monday.
On the other hand, classical defensive plays like information technology and pharmaceuticals have recorded a negative return of 9% and 10% respectively
The proposed 2,400 MW super critical power plant will supply uninterrupted power to Nalco's aluminium smelter at Angul
Tata Steel, Hindalco, Vedanta, Hindustan Zinc, NMDC, SAIL and Moil were up more than 5% each on the NSE.
Tata Steel, National Aluminium Company and NMDC have hit their respective 52-week highs on NSE in intra-day trade.
The company will carry out upgradation work, with an investment of about Rs 36 crores, at its Koppal plant in Karnataka to raise the pig iron capacity