In general, a bearish engulfing candlestick pattern is considered as a bearish sign, as the latest candle completely overshadows the preceding day's price action on the charts.
The brokerage believes that cost efficiencies from increased captive coal, a slurry pipeline, and higher captive power generation will support margins
Nomura says the broad-based slowdown validates earlier expectations of a sharper demand slump in the second half of the year.
Technical charts suggest that HEG, Graphite India, Chennai Petro, Jindal Steel and Deepak Fertilisers can potentially rally up to 18% from here; here are the key levels to track on these 5 stocks.
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.
Q2FY26 company results: Firms including Adani Green Energy, Blue Dart Express, Mahindra & Mahindra Financial Services, and Icra are also to release their July-September quarter earnings reports today
A delegation from Jindal Steel International is expected to visit Germany soon to evaluate various financial and operational aspects of thyssenkrupp Steel's assets, in which the Naveen Jindal-led group entity has expressed interest. In September, Jindal Steel International submitted a non-binding offer to thyssenkrupp AG and initiated discussions for the potential acquisition of its steel division. According to industry sources, the company is now preparing to send representatives to Germany to conduct an in-depth assessment of the thyssenkrupp Steel facilities. The evaluation will include a technical review of plant machinery and a broader analysis of the business operations. Sources added that discussions may also be held with workers at the site, as thyssenkrupp Steel is believed to carry a pension liability of approximately 2.7 billion euros. The steel facility in question, located in Duisburgabout 550 km from Berlinhas an annual production capacity of around 11 million tonnes
Jindal Steel International last month made an indicative bid for Thyssenkrupp Steel Europe (TKSE), Europe's second-largest steelmaker
Jindal Steel on Tuesday announced commissioning a basic oxygen furnace (BoF) of 3MTPA capacity as part of its ongoing over Rs 20,000 crore expansion project at Angul in Odisha. With the installation of the new BoF, the plant's crude steel making capacity has increased to 9 million tonne per annum (MTPA) from 6 MTPA earlier, Jindal Steel said in a statement. A basic oxygen furnace (BoF) converts molten iron or hot metal into steel using gaseous oxygen. The Naveen Jindal group company is in process of investing over Rs 20,000 crore to scale up the capacity of its Angul facility to 12 MTPA making it one the country's largest single location steel manufacturing unit. Jindal Steel said it has commissioned its 250 MT BoF converter at the Angul integrated steel plant, adding 3 MTPA of crude steelmaking capacity. "The new BoF is now running, and the first heat has been successfully tapped. This achievement marks a significant step toward Angul's goal of becoming a 12 MTPA steel-making pla
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.
Looking ahead, a temporary breather cannot be ruled out, with immediate support placed around 24,900-25,000
thyssenkrupp AG confirmed that it has received a non-binding, indicative offer from Jindal Steel International for the purchase of thyssenkrupp Steel Europe
Thyssenkrupp said it would closely examine the offer "particularly with regard to economic sustainability, the continuation of the green transformation and employment at our steel sites"
Despite the soft quarter, JM Financial continues to highlight Tata Steel, JSPL, and Hindalco as top picks in the metals space.
Technical charts suggests that steel stocks are favourably placed on the charts, and could see a multi-month rally with a potential upside up to 24 per cent from here.
Steel stocks in demand: In past five trading days, the BSE Metal index outperformed the market by surging 6 per cent, as against 0.98 per cent rise in BSE Sensex.
Metal stocks were in demand on Wednesday amid buzz that the government may reallocate non-operational iron ore mines held by SAIL and OMC.
Q1 FY26 company results: Apollo Hospitals, Honasa Consumer, Aavas Financers, Alkem Laboratories, and Cochin Shipyard are also to release their April-June quarter earnings reports today
TVS Motors stock has broken out of a consolidation zone on the daily chart with a strong bodied bullish candle and higher than average traded volumes.
At 12:37 PM; Nifty Metal index, the top gainer among sectoral indices, was up 2.6 per cent, as compared to 0.57 per cent rise in Nifty 50.