Page 5 - Metals
Metals under pressure, Tata Steel, JSW Steel and Hindalco decline up to 3%
According to news reports, CLSA has cut FY20-21 earnings per share (EPS) estimates by 9-38 per cent factoring in lower commodity prices and stronger rupee.
 "Metals under pressure, Tata Steel, JSW Steel and Hindalco decline up to 3%")
Metals and mining may underperform in the second half
The price movements have been driven to a large extent by perceptions that global growth will get slower in 2019
 "Metals and mining may underperform in the second half")
Metal index hits 34-month high; Hindalco, Vedanta at 52-week high
Hindalco, Jindal Steel & Power, JSW Steel and Vedanta from the metal index were up 1% to 5%
 "Metal index hits 34-month high; Hindalco, Vedanta at 52-week high")
RCI Industries to invest Rs 50 cr for expansion of Baddi facility
The copper products manufacturer also plans to foray into the defence and mint industries
 "RCI Industries to invest Rs 50 cr for expansion of Baddi facility")
Murugappa Group arm CUMI opens composite electromineral plants at Cochin
New plants will add 25,000 tonnes of fused minerals, with potential sales of about $ 30 million
 "Murugappa Group arm CUMI opens composite electromineral plants at Cochin")
Metal shares extend fall; Nifty Metal index down 4% in two days
In 2017, metal index rallied 20% against 9.5% rise in Nifty 50 index till Monday.
 "Metal shares extend fall; Nifty Metal index down 4% in two days")
Metal, oil & gas sectors see sharpest rally in seven years in CY16
On the other hand, classical defensive plays like information technology and pharmaceuticals have recorded a negative return of 9% and 10% respectively
 "Metal, oil & gas sectors see sharpest rally in seven years in CY16")
NTPC-Nalco JV to set up Rs 14,000-cr power plant in Odisha
The proposed 2,400 MW super critical power plant will supply uninterrupted power to Nalco's aluminium smelter at Angul
 "NTPC-Nalco JV to set up Rs 14,000-cr power plant in Odisha")
Metal shares surge: Nifty Metal Index up 5%
Tata Steel, Hindalco, Vedanta, Hindustan Zinc, NMDC, SAIL and Moil were up more than 5% each on the NSE.
 "Metal shares surge: Nifty Metal Index up 5%")
Nifty Metal index hits 52-week high
Tata Steel, National Aluminium Company and NMDC have hit their respective 52-week highs on NSE in intra-day trade.
 "Nifty Metal index hits 52-week high")
Kirloskar Ferrous to increase pig iron capacity by 31,000 MTPA
The company will carry out upgradation work, with an investment of about Rs 36 crores, at its Koppal plant in Karnataka to raise the pig iron capacity
 "Kirloskar Ferrous to increase pig iron capacity by 31,000 MTPA")
JSW Steel, Hindalco turn focus to logistics to bulwark operating margins
With realisations continuing to be muted, domestic metal firms are increasingly paying attention to lowering expenses
 "JSW Steel, Hindalco turn focus to logistics to bulwark operating margins")
Supply worries keep industrial metals under pressure
Chinese smelters restore earlier production cuts; demand continues to remain subdued
 "Supply worries keep industrial metals under pressure")
Weak 2016 awaits precious and base metals
Downside risks to the forecast include, stronger than expected monetary tightening and dollar strength
 "Weak 2016 awaits precious and base metals")