Metal stocks zoom after China announces stimulus for struggling economy
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Metal stocks zoomed on the BSE after China announced stimulus for its struggling economy. People’s Bank of China (PBOC) China's central bank said it will cut the reserve requirement ratio (RRR) for banks by 50 basis points or half a percentage point. Additionally, the central bank will lower the seven-day reverse repurchase rate to 1.5% from 1.7%.
Tata Steel is currently trading at Rs. 160.20, up by 6.25 points or 4.06% from its previous closing of Rs. 153.95 on the BSE.
Steel Authority of India is currently trading at Rs. 134.50, up by 4.80 points or 3.70% from its previous closing of Rs. 129.70 on the BSE.
Vedanta is currently trading at Rs. 467.95, up by 14.90 points or 3.29% from its previous closing of Rs. 453.05 on the BSE.
Hindalco Industries is currently trading at Rs. 702.45, up by 12.00 points or 1.74% from its previous closing of Rs. 690.45 on the BSE.
