Vedanta Q3 Preview: Analysts see robust performance from the aluminium, zinc and power segments, which is likely to offset weakness in the oil and gas business
Steel companies are expected to deliver a robust 8-10% volume CAGR over FY25-28E, driven by strong domestic demand and capex, with safeguard duties supporting profitability, believe analysts.
India's steel sector is set to outperform globally, driven by strong domestic demand, safeguard duties and capacity expansion. Motilal Oswal picks JSW Steel, Tata Steel
The news report further suggested that the CCI probe has also held 56 top executives liable for price collusion over varying periods between 2015 and 2023
Jindal Steel plans to double its structural steel manufacturing capacity to 2.4 MTPA by mid-2028, aimed at addressing the growing demand for heavy and ultra-heavy structural steel sections.
HEG hopes that in two, three quarters, steel production starts to increase and the new electric arc furnace capacities start coming on stream in the next one to two years.
Aeroflex Industries shares surged in trade today after the company announced a series of capacity expansion initiatives along with a fund-raising plan.
Technical charts suggest that Tata Steel, Hindalco and National Aluminium can potentially rally up to 10%; here are the key levels to watch out for on these metal stocks.
Tata Steel Q2 preview: Brokerages project consolidated revenue in the range of ₹53,000-55,800 crore, up marginally Y-o-Y, while Ebitda is likely to rise 38-67 per cent Y-o-Y to around ₹8,500 crore.
Analysts at Nuvama noted that APL Apollo launched its new 'SG Premium' product line at around ₹49,500 per tonne to counter competition from secondary steel players.
Motilal Oswal Financial upgrades Tata Steel from Neutral to BUY with a target price of ₹210 per share, while InCred Equities upgraded SAIL's rating to ADD from REDUCE, with a target price of ₹158.
On the bourses at 9:20 AM, JSW Steel share price was trading 0.28 per cent lower at ₹1,159.50 per share. By comparison, BSE Sensex was trading 0.8 per cent higher at 84,620.90 levels.
Around 1:30 PM, Mahamaya Steel share price was trading 1.60 per cent higher at ₹466.70 per share. By comparison, BSE Sensex was trading 0.68 per cent higher at 81,761.88 levels.
Analysts at Nuvama have revised their target price on the Jindal Steel stock to ₹1,426 from ₹1,193 earlier, valuing it at 7x FY28E EV/Ebitda, and reiterated a 'Buy' rating.
