Technical charts suggest that Tata Steel, Hindalco and National Aluminium can potentially rally up to 10%; here are the key levels to watch out for on these metal stocks.
Nomura says the broad-based slowdown validates earlier expectations of a sharper demand slump in the second half of the year.
Tata Steel Q2 preview: Brokerages project consolidated revenue in the range of ₹53,000-55,800 crore, up marginally Y-o-Y, while Ebitda is likely to rise 38-67 per cent Y-o-Y to around ₹8,500 crore.
Analysts at Nuvama noted that APL Apollo launched its new 'SG Premium' product line at around ₹49,500 per tonne to counter competition from secondary steel players.
Till 10:38 AM; a combined 90.32 million equity shares representing 2.2 per cent of total equity of SAIL changed hands on the NSE and BSE.
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.
On the bourses, Tata Steel shares rose as much as 1.91 per cent to hit a fresh 52-week high of ₹177.85 per share.
On the bourses at 9:20 AM, JSW Steel share price was trading 0.28 per cent lower at ₹1,159.50 per share. By comparison, BSE Sensex was trading 0.8 per cent higher at 84,620.90 levels.
JP Morgan has raised Tata Steel's share price target to ₹195 from ₹180, implying an upside potential of 14 per cent from current levels.
Around 1:30 PM, Mahamaya Steel share price was trading 1.60 per cent higher at ₹466.70 per share. By comparison, BSE Sensex was trading 0.68 per cent higher at 81,761.88 levels.
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.
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.
Sal Steel was locked at the 10% upper circuit in Tuesday's trading session; after having hit the 20% upper limit in the preceding two trading sessions.
Mukand shares surged after the company announced the execution of an agreement for sale on July 23, 2025, for monetising land assets in Thane district.
JTL Industries stock was trading 4 per cent lower at ₹73.82 compared to the previous day's close of ₹76.9 on the NSE
The brokerage believes the stage is set for a strong turnaround in JSW Steel's margins and earnings, aided by both internal efficiencies and macro tailwinds.
Jindal Stainless is planning to expand its manufacturing capacity from 3 metric tons (mt) to 4.2 mt by FY27
State Bank of India (SBI), Indian Overseas Bank (IOB), Uco Bank, Central Bank of India and Union Bank of India slipped between 1 per cent to 2 per cent in intraday deals on Monday
NGT has directed completion of the voluntary environment protection and restoration measures, being undertaken by the company through planation etc, and also by way of CSR activities, within a period