Read more about Metal stocks spike on Business Standard. Metal stocks were trading with gains, with the S&P BSE Metal index increasing 476.34 points or 2.59% at 18850.65 at 09:49 IST.
Read more about Metal stocks slip on Business Standard. Metal stocks were trading in red, with the S&P BSE Metal index decreasing 417.54 points or 2.23% at 18274.74 at 13:49 IST.
Metal stocks were trading in the positive zone, with the S&P BSE Metal index rising 430.8 points or 2.32% at 18961.53 at 09:49 IST. Among the components of the S&P BSE Metal index, Jindal Steel & Power Ltd (up 4.46%), JSW Steel Ltd (up 3.92%),Tata Steel Ltd (up 2.45%),Steel Authority of India Ltd (up 2.2%),Hindustan Zinc Ltd (up 1.99%), were the top gainers. Among the other gainers were Hindalco Industries Ltd (up 1.77%), National Aluminium Company Ltd (up 1.64%), Vedanta Ltd (up 1.51%), NMDC Ltd (up 1.2%), and Coal India Ltd (up 0.1%).
At 09:49 IST, the S&P BSE Sensex was up 141.09 or 0.28% at 50792.99.
The Nifty 50 index was up 56.2 points or 0.37% at 15253.9.
Explore Now
Motilal Oswal has a buy call on Hindalco Industries with a target price of Rs 475. The current market price of Hindalco Industries is Rs 386.35.
Hindalco Industries Ltd, incorporated in the year 1958, is a Large Cap company with a market cap of Rs 86542.28 Crore, operating in Metals - Non Ferrous sector.
Hindalco Industries Ltd s key Products/Revenue Segments include Aluminium, Other Operating Revenue, Sale of services for the year ending 31-Mar-2020.
Investment Rationale
Robust volume recovery in both India and Novelis
Strong profitability in its primary Aluminum business, given its low-cost integrated operations in India (in the top quartile globally) and higher LME prices
JSW Steel Ltd has added 6.53% over last one month compared to 13.06% gain in S&P BSE Metal index and 5.95% rise in the SENSEX
JSW Steel Ltd fell 3.03% today to trade at Rs 676.65. The S&P BSE Metal index is down 2.02% to quote at 18265.99. The index is up 13.06 % over last one month. Among the other constituents of the index, Vedanta Ltd decreased 2.69% and Hindalco Industries Ltd lost 1.89% on the day. The S&P BSE Metal index went up 194.95 % over last one year compared to the 65.38% surge in benchmark SENSEX.
JSW Steel Ltd has added 6.53% over last one month compared to 13.06% gain in S&P BSE Metal index and 5.95% rise in the SENSEX. On the BSE, 2.3 lakh shares were traded in the counter so far compared with average daily volumes of 7.96 lakh shares in the past one month. The stock hit a record high of Rs 773 on 10 May 2021. The stock hit a 52-week low of Rs 162.05 on 18 May 2020.