Shares of metal companies are in demand on the bourses trading higher by up to 12% on the bourses on expectations any move by China to step up infrastructure spending would boost demand for industrial metals.
Steel Authority of India (SAIL), Jindal Steel and Power (JSPL), JSW Steel, Hindalco Industries, Tata Steel, Hindustan Zinc and Sesa Sterlite are up 2-12% on the Bombay Stock Exchange (BSE).
The BSE metal share index S&P BSE Metal, the largest gainer among sectoral indices, has rallied 3.16% compared to 0.13% rise in benchmark S&P BSE Sensex at 1240 hours.
China's Premier Li Keqiang on Friday sought to reassure jittery global investors that Beijing was ready to support the cooling economy, saying the government had the necessary policies in place and would push ahead with infrastructure investment, the Reuters report suggests.
On March 28, LMEX, a gauge of six metals traded on the London Metal Exchange (LME), had gained 1.2% to close at 2,993.
Among the individual stocks SAIL has surged 12% to Rs 72.35 on the BSE. JSW Steel and JSPL are up 5% each at Rs 1,032 and Rs 293 respectively, while Hindalco Industries up 4% at Rs 135 and Tata Steel by 3% at Rs 392.
Steel Authority of India (SAIL), Jindal Steel and Power (JSPL), JSW Steel, Hindalco Industries, Tata Steel, Hindustan Zinc and Sesa Sterlite are up 2-12% on the Bombay Stock Exchange (BSE).
The BSE metal share index S&P BSE Metal, the largest gainer among sectoral indices, has rallied 3.16% compared to 0.13% rise in benchmark S&P BSE Sensex at 1240 hours.
China's Premier Li Keqiang on Friday sought to reassure jittery global investors that Beijing was ready to support the cooling economy, saying the government had the necessary policies in place and would push ahead with infrastructure investment, the Reuters report suggests.
On March 28, LMEX, a gauge of six metals traded on the London Metal Exchange (LME), had gained 1.2% to close at 2,993.
Among the individual stocks SAIL has surged 12% to Rs 72.35 on the BSE. JSW Steel and JSPL are up 5% each at Rs 1,032 and Rs 293 respectively, while Hindalco Industries up 4% at Rs 135 and Tata Steel by 3% at Rs 392.
