 "Kunal Bose: Steel world puts China in the dock for underpriced exports")
Shares of metal companies are in focus with the Nifty Metal and S&P BSE Metal index hitting their respective 52-week highs on Wednesday in intra-day trade after rally in steel stocks.
JSW Steel, Tata Steel, Hindalco Industries, National Aluminium Company (Nalco), Coal India, Jindal Steel & Power (JSPL), Steel Authority of India (SAIL), NMDC and Bhushan Steel from the metal index were up 2% to 6%.
At 10:09 am; Nifty Metal index and S&P BSE Metal Index were up 3% each as compared to less than 1% rise in the benchmark indices. Nifty Metal (2,922) and BSE Metal (11,097) hit their respective 52-week highs in intra-day trade.
Shanghai steel futures jumped 7% to their highest in nearly three weeks on Tuesday, supported by promises from China's top steelmaking province to further reduce production capacity, the Reuters report suggests. CLICK HERE TO READ FULL REPORT
Meanwhile, JSW Steel October-December crude steel output rises 43% to 3.86 million tons over the previous year, while Tata Steel output climbs 24% year on year to 3.15 million tons.
JSW Steel, Tata Steel, Hindalco Industries, National Aluminium Company (Nalco), Coal India, Jindal Steel & Power (JSPL), Steel Authority of India (SAIL), NMDC and Bhushan Steel from the metal index were up 2% to 6%.
At 10:09 am; Nifty Metal index and S&P BSE Metal Index were up 3% each as compared to less than 1% rise in the benchmark indices. Nifty Metal (2,922) and BSE Metal (11,097) hit their respective 52-week highs in intra-day trade.
Shanghai steel futures jumped 7% to their highest in nearly three weeks on Tuesday, supported by promises from China's top steelmaking province to further reduce production capacity, the Reuters report suggests. CLICK HERE TO READ FULL REPORT
Meanwhile, JSW Steel October-December crude steel output rises 43% to 3.86 million tons over the previous year, while Tata Steel output climbs 24% year on year to 3.15 million tons.
| COMPANY | LATEST | PREV CLOSE | GAIN(%) |
| JSW STEEL | 189.80 | 178.45 | 6.36 |
| BHUSHAN STEEL | 44.70 | 42.55 | 5.05 |
| JINDAL STEEL | 77.60 | 74.80 | 3.74 |
| S A I L | 54.80 | 52.85 | 3.69 |
| TATA STEEL | 446.80 | 431.90 | 3.45 |
| NATL. ALUMINIUM | 70.15 | 68.00 | 3.16 |
| HINDALCO INDS. | 169.30 | 164.40 | 2.98 |
| COAL INDIA | 308.50 | 300.60 | 2.63 |
| NMDC | 141.10 | 138.05 | 2.21 |
| VEDANTA | 236.75 | 232.60 | 1.78 |
| HIND.ZINC | 277.00 | 272.85 | 1.52 |
| WELSPUN CORP | 82.35 | 81.15 | 1.48 |
| APL APOLLO | 962.00 | 951.00 | 1.16 |
| Nifty Metal | 11087.00 | 10753.00 | 3.1 |
| S&P BSE Metal | 2920.20 | 2833.90 | 3.0 |
