Most brokerages expect a healthy improvement in earnings for the ferrous sector, with Ebitda growth likely on both a year-on-year (Y-o-Y) and quarter-on-quarter (Q-o-Q) basis
Output rises 8 per cent year-on-year on Kalinganagar ramp-up, with domestic deliveries crossing 20 mt for the first time and strong growth across segments
The Nifty Metal index fell over 3 per cent to hit an intraday low of 11,052.55, dragged by Hindustan Copper, Hindustan Zinc, APL Apollo Tubes, Tata Steel, SAIL, Adani Enterprises, and Jindal Steel
Anand Rathi has revised the target price for Tata Steel to ₹240, based on FY28e SoTP valuation
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Scrap-based electric arc furnace in Ludhiana marks Tata Steel's first step towards low-emission steelmaking and supports its net-zero target for 2045
Strong domestic demand, protectionist policies in key markets and cost efficiencies position Tata Steel to benefit despite global headwinds and price volatility
Excluding National Aluminium, 14 of 15 index constituents rose on Friday, with Lloyds Metals & Energy, Tata Steel, JSW Steel, Jindal Steel, and APL Apollo Tubes gaining over 3 per cent each
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In the ferrous space, analysts at ICICI Securities don't foresee any major impact due to ongoing geopolitical tensions as exports share of total steel production is pegged at <6 per cent.
The merger would also consolidate long products assets under a single entity, unlocking opportunities to create shareholder value, the company said
Nifty Metal index: At 10:45 AM on Friday; the metal index was the top sectoral indices loser down 4.3 per cent as against 1.3 per cent decline in the Nifty 50.
Among sector players, Nomura has maintained Buy recommendations on Tata Steel with a target price of ₹220 per share, JSW Steel at ₹1,340, Jindal Steel at ₹1,280, and Lloyds Metals & Energy at ₹1,600
According to analysts, the broader weakness in metal stocks reflects the risk-off sentiment across global markets amid rising geopolitical tensions
Metal shares declined on Wednesday, following weakness in global markets and a broad-based risk-off sentiment triggered by escalating geopolitical tensions in West Asia
Tata Motors to make new investment in hydrogen truck at Jharkhand's Jamshedpur facility, he added
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Tata Steel, JSW Steel and Jindal Steel hit their respective all-time highs on the NSE today
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MOFSL remains constructive on Tata Steel on the back of a strong domestic demand outlook, safeguard duty-led price support, ongoing capacity expansions and a gradual turnaround in the EU biz.