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Metal stocks shine amid strong global cues; JSPL, JSW Steel jump up to 10%

On the earnings front, Jindal Steel and Power (JSPL) on Monday reported a consolidated net profit of Rs 305.62 crore during the quarter ended March 31, 2020.

Trade war to slowdown in demand: Margin pressure on metals to continue
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In a sector update, Edelweiss Securities notes that China’s trade data and macroeconomic indicators for April indicate that the worst seems to be behind for the metals and mining players.

SI Reporter New Delhi
Shares of metal companies rallied on Tuesday amid positive global cues as more economies are re-opening post the Covid-19 lockdown. Additionally, encouraging quarterly numbers by some of the companies also boosted investor sentiment. 

At 11:15 am, the S&P BSE METAL index was trading over 2.7 per cent higher at 6,362 points with all the constituents in the green. Jindal Steel and Power (JSPL) was leading the charge with around 10 per cent jump at Rs 105.90 apiece, followed by JSW Steel (up 6 per cent), and Tata Steel (up 3 per cent).

In comparison, the S&P BSE Sensex was trading

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First Published: May 26 2020 | 11:39 AM IST

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