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
Tata Steel Nederland (TSN) has adopted a comprehensive transformation program to maximise production efficiencies, reduce fixed costs, and optimise product mix and margins
Nomura has set a target price of Rs 1,220 and Rs 1,080 for JSW Steel and JSPL, respectively.
Technical chart shows that Nifty Metal has a strong support base around the 8,000-mark; In case, the index violates the same it can slide another 15 per cent from present levels.
Steel tariff Trump news: US President Donald Trump may announce a 25-per cent tariff across all the imports of steel and aluminum as early as Monday
At 6:36 AM, GIFT Nifty Futures were trading 47 points lower at 23,568, indicating a negative start for the Indian bourses
The Nifty Metal index was seen testing the 100-WMA (Weekly Moving Average) support for the third time in the last 4 weeks. Similarly metal stocks too are testing long-term supports; check levels here.
JSW Steel reported a consolidated net profit attributable to the owners of Rs 717 crore in Q3FY25, reflecting a 70.3 per cent decline Y-o-Y, compared to Rs 2,415 crore in Q3FY24
At 10:59 AM, the BSE Metal index, the top gainer among sectoral indices, was up 1 per cent, as compared to the 0.09 per cent rise in the BSE Sensex
Long-term steel demand buoyancy augurs well for the company and it is well-positioned to capitalise on the existing and emerging opportunities in the market, believes the management.
The Earnings before interest, tax, depreciation, and amortisation (Ebitda) for the second quarter stood declined to Rs 441 crore from Rs 72 crore a year ago
Domestic brokerages anticipate a challenging quarter for Tata Steel marked by lower steel realisations and regional pricing pressures
Domestic crude steel production for eight months of CY24 has risen 7.4 per cent YoY to 98.7m tonnes