Steel Stocks
Hariom Pipe hits new high, up 4% on shareholders nod for preferential issue
In past three months, the stock has zoomed nearly 50 per cent, as compared to 5 per cent decline in the S&P BSE Sensex.
 "Hariom Pipe hits new high, up 4% on shareholders nod for preferential issue")
Sunflag Iron up 15% in two days on acquiring 11.89% stake in Lloyds Metals
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.
 "Sunflag Iron up 15% in two days on acquiring 11.89% stake in Lloyds Metals")
Vardhman Special Steel soars 9% on starting production for Toyoto Group Co
The company said sales of these products for FY2023- 24 will be 10,000 MT approx and further increase with receipt of more approvals in next 2-3 years.
 "Vardhman Special Steel soars 9% on starting production for Toyoto Group Co")
NMDC's demerged Chhattisgarh unit hits 5% upper circuit on market debut
A combined, around 7.5 million equity shares had changed hands and there were pending buy orders for 19 million shares on the NSE and BSE till 10:16 AM
 "NMDC's demerged Chhattisgarh unit hits 5% upper circuit on market debut")
Tata Steel slips 5% on profit-booking after disappointing Q3 performance
The disappointing performance during the quarter was on the back of a sharp drop in realisations in Europe coupled with a non-cash deferred tax expense on account of British Steel Pension Scheme.
 "Tata Steel slips 5% on profit-booking after disappointing Q3 performance")
Jindal Steel & Power up 2%, hits over 10-month high in a choppy market
Monnet Power Assets, once operational, will provide an opportunity for the company to improve the heat rate, resulting in lower usage of coal in the power plant, said ICICI Securities in its report.
 "Jindal Steel & Power up 2%, hits over 10-month high in a choppy market")
Rama Steel freezes at 10% upper limit as stock turns ex-date for 4:1 bonus
The board of directors of the company had fixed Friday, January 6, 2023, as the record date, for the purpose of ascertaining the eligibility of shareholders entitled for issuance of bonus shares.
 "Rama Steel freezes at 10% upper limit as stock turns ex-date for 4:1 bonus")
Hariom Pipe hits new high, up 9% on acquiring operating assets of RP Metal
The stock has zoomed 146 per cent from its issue price of Rs 153 per share, post its market debut on April 13, 2022.
Shyam Metalics up 9%; forays into stainless steel biz with Mittal Corp buy
On Tuesday, SMEL announced their third acquisition of Mittal Corp with a foray into the stainless steel (SS) / wire rod & bar mill business.
 "Shyam Metalics up 9%; forays into stainless steel biz with Mittal Corp buy")
Sensex surges 403 pts; Nifty tops 18,600; PSU Bank index leaps 4%, IT 1%
CLOSING BELL: IndusInd Bank, Bajaj Finance, M&M, Tech M, HCL Tech, Infosys, TCS, Ultratech Cement, and Bajaj Finserv were the top gainers on the 30-pack index
 "Sensex surges 403 pts; Nifty tops 18,600; PSU Bank index leaps 4%, IT 1%")
Jindal Stainless surges 16% in two days after Quant MF buys 2.6 mn shares
On December 6, Quant Mutual Fund - Small Cap Fund purchased 2.63 million shares representing 0.52 per cent of the total equity of Jindal Stainless at Rs 182.97 apiece on the NSE.
 "Jindal Stainless surges 16% in two days after Quant MF buys 2.6 mn shares")
Roll-back of export duty on steel has no near-term earnings upside: Experts
Analysts perceive the roll-back of export duties on steel as a valuation re-rating event, rather than an earnings upgrade trigger
 "Roll-back of export duty on steel has no near-term earnings upside: Experts")
Steel stocks firm after export duty removal: GPIL, SAIL climb up to 19%
According to analysts at ICICI Securities, the removal of export duty augurs well for domestic steel players over a longer term horizon
 "Steel stocks firm after export duty removal: GPIL, SAIL climb up to 19%")
NMDC trades ex-date for demerger; stock surges 14% on heavy volumes
NMDC shareholders will be eligible to get one share of NMDC Steel for every equity share held.
 "NMDC trades ex-date for demerger; stock surges 14% on heavy volumes")
Maharashtra Seamless up 10%, hits new high on stock split, bonus issue plan
In the past one year, the stock has appreciated by 100 per cent on the back of robust financial performance and strong order book position.
 "Maharashtra Seamless up 10%, hits new high on stock split, bonus issue plan")
This Tata group stock has zoomed 101% in six days, trades at 6-year high
TRF was locked at the 5 per cent upper circuit for the sixth straight trading session after its removal from the Graded Surveillance Measure (GSM) surveillance.
Venus Pipes hits new high, up 47% in two weeks on getting BIS certification
When compared with its issue price of Rs 326 per cent, the stock has gained a massive 80 per cent in less than four months post listing.
Tata Steel jumps 5% after turning ex-date for 1:10 stock split
The company had fixed Friday, July 29, 2022 as the 'Record Date' for the purpose of determining the eligibility of shareholders for the purpose of sub-division /split from Rs 10 to Re 1.
 "Tata Steel jumps 5% after turning ex-date for 1:10 stock split")
Selling pressure on metal and mining stocks likely to persist: Analysts
The sell-off has been triggered by the central government's decision to impose export duty on steel in a bid to thaw domestic prices
 "Selling pressure on metal and mining stocks likely to persist: Analysts")
From JSPL to Tata Steel, steel stocks melt down on export duty levy
Given lower earnings, fair value for steelmakers likely to reduce by 25%
 "From JSPL to Tata Steel, steel stocks melt down on export duty levy")
