Metal stocks in demand: Analysts expect non-ferrous players to witness margin expansion in Q3 with LME prices continuing an uptrend compared to Q2.
Vedanta, Hindalco and National Aluminium were seen trading on a buoyant note in Friday's trade amid rising aluminium prices on the LME; and can potentially rally another 18%, suggest tech charts.
At 02:49 PM; Nifty Metal index was the top gainer among sectoral indices, up 2.2 per cent, as compared to 1 per cent rise in the Nifty 50.
The US government has suspended 26 per cent reciprocal tariffs for India till July 9, 2025; however, the base tariff of 10 per cent will continue to be enforced
The surge in the metal index, analysts believe, is largely credited to Vedanta's robust Q4 performance and its first interim dividend declaration of Rs 11 for FY25
Consolidated earnings before interest tax depreciation and amortisation (Ebitda) declined by 29 per cent YoY in Q2 to Rs 5,743 crore on higher input costs
Cost controls cushion domestic profitability in Q4, and US arm Novelis supports consolidated performance
The trade-related tension between the world's two biggest economies has already seen across-the-board selling in metal space.