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Metals Sector Update : Prices rise across products By ICICI Securities HRC prices in traders’ market rose by INR 900/te while rebar prices in primary market rose by INR 2,500/te in the week ended Sep 06, ’23, mirroring the hike taken by major steel producers. Despite coking coal price rising 2% WoW, spot spread inched up on a positive price-cost spread. In China, both export and domestic prices were up following the expectations from policy measures to boost demand. Additionally, market participants expect production cuts to be implemented in order t...
Metals Sector Update : Prices rise across products By ICICI Securities
Metals Sector Update : Prices rise across products By ICICI Securities
Source: ICICI Securities Ltd
9/09/2023 10:59:04 AM
Metals Sector Update : Steel Prices rise across products By ICICI Securities HRC prices in traders’ market rose by INR 900/te while rebar prices in primary market rose by INR 2,500/te in the week ended Sep 06, ’23, mirroring the hike taken by major steel producers. Despite coking coal price rising 2% WoW, spot spread inched up on a positive price-cost spread. In China, both export and domestic prices were up following the expectations from policy measures to boost demand. Additionally, market participants expect production cuts to be implemented in order t...
Metals Sector Update : Steel Prices rise across products By ICICI Securities
Metals Sector Update : Steel Prices rise across products By ICICI Securities
Source: ICICI Securities
8/09/2023 2:55:52 PM
Vale International to supply iron ore agglomerates to Essar Group's KSA green steel project Vale International, a wholly-owned subsidiary of Vale SA, a global mining company and a leading producer of Brazilian iron ore and iron ore agglomerates, has entered into a partnership with the multinational conglomerate Essar Group. The collaboration aims to supply iron ore agglomerates for the Green Steel Arabia (GSA) project. The Letter of Intent (LoI) in this regard was signed on September 1. Through this partnership, Vale will supply Essar Group with 4 million tonnes per annum (mtp...
Vale International to supply iron ore agglomerates to Essar Group's KSA green steel project
Vale International to supply iron ore agglomerates to Essar Group's KSA green steel project
Source: IANS
7/09/2023 3:36:10 PM
Gallantt Ispat trades marginally higher on planning for addition in capacities of two units in Gorakhpur Gallantt Ispat is currently trading at Rs. 97.55, up by 0.19 points or 0.20% from its previous closing of Rs. 97.36 on the BSE. The scrip opened at Rs. 97.01 and has touched a high and low of Rs. 98.04 and Rs. 95.75 respectively. So far 2828 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 100.00 on 05-Sep-2023 and a 52 week low of Rs. 46.00 on 23-May-2023. Last one week high and low of the scrip stood at Rs. 10...
Gallantt Ispat trades marginally higher on planning for addition in capacities of two units in Gorakhpur
Gallantt Ispat trades marginally higher on planning for addition in capacities of two units in Gorakhpur
Source: Accord Fintech
6/09/2023 10:06:02 AM
Metals & Mining Sector Update : China policy measures, domestic price hikes improve sentiment By Motilal Oswal Financial Services China policy measures, domestic price hikes improve sentiment * Chinese authorities have taken steps in the last few weeks to support the country’s property and real estate sector. The measures include a reduction in mortgage rates for existing customers and lower down-payment requirements for new and secondtime home buyers. * Under the new stimulus measures, existing borrowers can renegotiate interest rates on mortgages for their first homes; the down-payment requirements for fir...
Metals & Mining Sector Update : China policy measures, domestic price hikes improve sentiment By Motilal Oswal Financial Services
Metals & Mining Sector Update : China policy measures, domestic price hikes improve sentiment By Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services Ltd
5/09/2023 3:33:37 PM
Maharashtra Seamless spurts on bagging orders worth Rs 157 crore Maharashtra Seamless is currently trading at Rs. 570.15, up by 11.75 points or 2.10% from its previous closing of Rs. 558.40 on the BSE. The scrip opened at Rs. 571.05 and has touched a high and low of Rs. 586.55 and Rs. 568.95 respectively. So far 32557 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 586.55 on 04-Sep-2023 and a 52 week low of Rs. 279.00 on 26-Dec-2022. Last one week high and low of the scrip st...
Maharashtra Seamless spurts on bagging orders worth Rs 157 crore
Maharashtra Seamless spurts on bagging orders worth Rs 157 crore
Source: Accord Fintech
4/09/2023 10:50:15 AM
Commodity Quote on Base Metals by Mr. Saish Sandeep Sawant Dessai, Angel One Ltd Below is Commodity Quote on Base Metals Mr. Saish Sandeep Sawant Dessai, Research Associate- Base Metals, Angel One Ltd With the conclusion of the August month, most of the base metals slipped lower, with Nickel and Zinc being the top losing metals. After a decent July month, which saw all the metals delivering positive returns, it did not take much time for things to change. The metals trimmed the gains from the previous month as the tailwinds continued to weigh aft...
Commodity Quote on Base Metals by Mr. Saish Sandeep Sawant Dessai, Angel One Ltd
Commodity Quote on Base Metals by Mr. Saish Sandeep Sawant Dessai, Angel One Ltd
Source: Angel One Ltd
1/09/2023 4:45:54 PM
SAIL shines on supplying 4000 tonnes of special steel for seventh frigate ship of Indian Navy Steel Authority of India is currently trading at Rs. 94.39, up by 3.73 points or 4.11% from its previous closing of Rs. 90.66 on the BSE. The scrip opened at Rs. 91.06 and has touched a high and low of Rs. 94.58 and Rs. 90.90 respectively. So far 1140562 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 96.14 on 01-Aug-2023 and a 52 week low of Rs. 73.25 on 28-Sep-2022. Last one week high and low of the scrip sto...
SAIL shines on supplying 4000 tonnes of special steel for seventh frigate ship of Indian Navy
SAIL shines on supplying 4000 tonnes of special steel for seventh frigate ship of Indian Navy
Source: Accord Fintech
1/09/2023 2:39:46 PM
Aeroflex Industries surges on repaying entire loan of Kotak Mahindra Bank Aeroflex Industries is currently trading at Rs. 167.10, up by 3.95 points or 2.42% from its previous closing of Rs. 163.15 on the BSE. The scrip opened at Rs. 165.00 and has touched a high and low of Rs. 171.45 and Rs. 158.70 respectively. So far 656712 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 197.40 on 31-Aug-2023 and a 52 week low of Rs.158.70 on 31-Aug-2023. Last one week high and low of the scrip...
Aeroflex Industries surges on repaying entire loan of Kotak Mahindra Bank
Aeroflex Industries surges on repaying entire loan of Kotak Mahindra Bank
Source: Accord Fintech
1/09/2023 2:21:59 PM
SSWL jumps on achieving net turnover of Rs 389.77 crore in August Steel Strips Wheels is currently trading at Rs. 258.00, up by 4.70 points or 1.86% from its previous closing of Rs. 253.30 on the BSE. The scrip opened at Rs. 253.35 and has touched a high and low of Rs. 262.95 and Rs. 250.80 respectively. So far 63389 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 262.95 on 01-Sept -2023 and a 52 week low of Rs. 126.20 on 30-Jan-2023. Last one week high and low of the scrip st...
SSWL jumps on achieving net turnover of Rs 389.77 crore in August
SSWL jumps on achieving net turnover of Rs 389.77 crore in August
Source: Accord Fintech
1/09/2023 11:23:42 AM
Aeroflex Industries lists with 82.78% premium on the BSE Aeroflex Industries has debuted at Rs 197.40 on the BSE, up by 89.40 points or 82.78% from its issue price of Rs 108.00. The scrip is currently trading at Rs 167.50, up by 59.50 points or 55.09% from its issue price. It has touched a high and low of Rs 197.40 and Rs 166.50 respectively. So far 22.19 lakh shares were traded on the counter. The offering, which was open for subscription between August 22, 2023 and August 24, 2023 was subscribed 97.11 times. The issue price was fixed at Rs ...
Aeroflex Industries lists with 82.78% premium on the BSE
Aeroflex Industries lists with 82.78% premium on the BSE
Source: Accord Fintech
31/08/2023 11:20:35 AM
Gravita India inches up as its step down arm starts commercial production of Lead from recycling plant in Togo Gravita India is currently trading at Rs. 749.40, up by 0.40 points or 0.05% from its previous closing of Rs. 749.00 on the BSE. The scrip opened at Rs. 745.05 and has touched a high and low of Rs. 760.30 and Rs. 742.40 respectively. So far 15720 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 773.30 on 17-Aug-2023 and a 52 week low of Rs. 297.00 on 28-Sep-2022. Last one week high and low of the scrip stood at R...
Gravita India inches up as its step down arm starts commercial production of Lead from recycling plant in Togo
Gravita India inches up as its step down arm starts commercial production of Lead from recycling plant in Togo
Source: Accord Fintech
29/08/2023 3:38:48 PM
Hindustan Zinc rises on inking MoU with CSIR-CIMFR Hindustan Zinc is currently trading at Rs. 315.05, up by 1.00 points or 0.32% from its previous closing of Rs. 314.05 on the BSE. The scrip opened at Rs. 314.00 and has touched a high and low of Rs. 316.00 and Rs. 314.00 respectively. So far 4521 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 383.00 on 19-Jan-2023 and a 52 week low of Rs. 262.95 on 28-Sep-2022. Last one week high and low of the scrip stood at R...
Hindustan Zinc rises on inking MoU with CSIR-CIMFR
Hindustan Zinc rises on inking MoU with CSIR-CIMFR
Source: Accord Fintech
24/08/2023 11:24:42 AM
Buy Hindalco Ltd For Target Rs.550 - Motilal Oswal Financial Services Ltd Performance exceeds our estimates; outlook positive * Hindalco (HNDL)’s 1QFY24 consolidated revenue was down 9% YoY to INR530b, 12% above our estimate of INR475b. * Consolidated EBITDA declined 32% YoY to INR57b, 10% above our estimate of INR52b. The beat was led by better price/mix improvement, better downstream aluminum performance, lower input costs, lower energy costs and other expenses during the quarter. * HNDL’s finance cost rose 16% YoY to INR10b, while depreciati...
Buy Hindalco Ltd For Target Rs.550 - Motilal Oswal Financial Services Ltd
Buy Hindalco Ltd For Target Rs.550 - Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services
21/08/2023 12:53:09 PM
Buy APL Apollo Tubes Ltd For Target Rs.1,740 - ICICI Securities Towards higher vistas... APL Apollo Tubes’ (APL) Q1FY24 EBITDA missed consensus estimates by 10% though it was broadly in line with ours. Key points: 1) destocking in Q1FY24 impacted margins with EBITDA/te declining 6.5% QoQ to INR4,645; 2) sales volume was up 56.8% YoY (1.8% QoQ) at 662kte; and 3) volume from Raipur plant was at 75kte, slightly up QoQ. Going ahead, management expects growth to be largely volume-driven with capacity rising to 5.0mtpa by end-FY25. Besides, EBITDA/te i...
Buy APL Apollo Tubes Ltd For Target Rs.1,740 - ICICI Securities
Buy APL Apollo Tubes Ltd For Target Rs.1,740 - ICICI Securities
Source: ICICI Securities
19/08/2023 9:39:15 AM
Buy Mishra Dhatu Nigam Ltd For Target Rs.465 - ICICI Direct Opportunities galore; execution set to pick-up… About the stock: Mishra Dhatu Nigam (Midhani) is the manufacturer of High performance alloys, special steels and stainless steels, super alloys (nickel base, iron base and cobalt base), varieties of titanium alloys etc • The Company has two state of the art manufacturing facilities - Hyderabad (Telangana) and Rohtak (Haryana) • Consolidated revenue has grown by 6.9% CAGR in the last 3 years during the period FY20-23 whi...
Buy Mishra Dhatu Nigam Ltd For Target Rs.465 - ICICI Direct
Buy Mishra Dhatu Nigam Ltd For Target Rs.465 - ICICI Direct
Source: ICICI Direct
18/08/2023 11:56:32 AM
Pennar Industries jumps on bagging orders worth Rs 702 crore Pennar Industries is currently trading at Rs. 95.79, up by 9.17 points or 10.59% from its previous closing of Rs. 86.62 on the BSE. The scrip opened at Rs. 90.89 and has touched a high and low of Rs. 96.19 and Rs. 90.00 respectively. So far 195028 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 96.19 on 16-Aug-2023 and a 52 week low of Rs. 38.00 on 16-Aug-2022. Last one week high and low of the scrip stood at Rs...
Pennar Industries jumps on bagging orders worth Rs 702 crore
Pennar Industries jumps on bagging orders worth Rs 702 crore
Source: Accord Fintech
16/08/2023 10:21:30 AM
Buy Hindalco Industries Ltd For Target Rs.550 - JM Financial Institutional Securities Novelis to witness margin recovery; India business stable Hindalco reported 1Q consol. adj. EBITDA of INR57.3bn, higher than JMfe of INR49.5bn. India aluminium business (incl. Utkal) delivered an EBITDA of INR20.8bn down 9.6% QoQ driven by lower realisation. Net debt increased sequentially to INR385bn (vs INR340bn in 4Q) primarily due to higher working capital requirements. Key takeaways from the call are a) CoP India aluminium to decline by 3% QoQ during 2QFY24 b) 11% of FY24 aluminium vo...
Buy Hindalco Industries Ltd For Target Rs.550 - JM Financial Institutional Securities
Buy Hindalco Industries Ltd For Target Rs.550 - JM Financial Institutional Securities
Source: JM Financial Institutional Securities
14/08/2023 3:18:21 PM
Buy Hindalco Industries Ltd For Target Rs.540 - JM Financial Institutional Securities With destocking in rear-view, shipments and margins to surge Novelis reported 1Q adj. EBITDA of USD421mn, in line with JMfe. Adj. EBITDA came in higher sequentially due to higher pricing and favourable mix despite lower shipments. The company achieved an EBITDA/t of USD479 during 1QFY24 vs US$431 in 4QFY23. Key takeaways from the call are – 1) beverage can segment de-stocking is nearly complete with volumes expected to improve going forward 2) EBITDA/t over the coming quarters expect...
Buy Hindalco Industries Ltd For Target Rs.540 - JM Financial Institutional Securities
Buy Hindalco Industries Ltd For Target Rs.540 - JM Financial Institutional Securities
Source: JM Financial Institutional Securities
13/08/2023 12:32:45 PM
India`s Hindalco posts 40% slump in Q1 profit on weaker volumes, metal prices India's Hindalco Industries, one of the country's largest aluminium and copper producers, reported a 40% fall in first-quarter profit on Tuesday as softer volumes and weak metal prices weighed. The company's consolidated net profit fell to 24.54 billion rupees ($296.4 million) in the quarter ended June 30 from 41.19 billion rupees a year earlier. With consumers largely cutting discretionary spending amid elevated global inflation, canned beverage shipments were curbed leadin...
India`s Hindalco posts 40% slump in Q1 profit on weaker volumes, metal prices
India`s Hindalco posts 40% slump in Q1 profit on weaker volumes, metal prices
Source: Reuters
8/08/2023 3:33:49 PM
Buy Hindalco Industries Ltd For Target Rs.540 - JM Financial Institutional Securities With destocking in rear-view, shipments and margins to surge Novelis reported 1Q adj. EBITDA of USD421mn, in line with JMfe. Adj. EBITDA came in higher sequentially due to higher pricing and favourable mix despite lower shipments. The company achieved an EBITDA/t of USD479 during 1QFY24 vs US$431 in 4QFY23. Key takeaways from the call are – 1) beverage can segment de-stocking is nearly complete with volumes expected to improve going forward 2) EBITDA/t over the coming quarters expect...
Buy Hindalco Industries Ltd For Target Rs.540 - JM Financial Institutional Securities
Buy Hindalco Industries Ltd For Target Rs.540 - JM Financial Institutional Securities
Source: JM Financial Institutional Securities Ltd
4/08/2023 2:28:19 PM
Buy Hindalco Ltd For Target Rs. 550 - Motilal Oswal Financial Services Ltd * Novelis (HNDL)’s 1QFY24 revenue was down 20% YoY to USD4.1b. However, revenue was 10% above our estimate of USD3.7b due to improved product mix, higher product pricing and improved automotive shipments, partially offset by lower beverage can shipments and lower LME. * Adjusted EBITDA was down 25% YoY at USD421m (in line with our estimate of USD410m) while EBITDA/t stood at USD479 (USD34/t above our estimate of USD445/t). The improvement in EBITDA/t was due to higher price/mix impro...
Buy Hindalco Ltd For Target Rs. 550 - Motilal Oswal Financial Services Ltd
Buy Hindalco Ltd For Target Rs. 550 - Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
4/08/2023 11:09:21 AM
JSW Steel moves up on entering into joint venture agreement with JFE Steel Corporation JSW Steel is currently trading at Rs. 805.20, up by 1.25 points or 0.16% from its previous closing of Rs. 803.95 on the BSE. The scrip opened at Rs. 799.10 and has touched a high and low of Rs. 805.50 and Rs. 794.25 respectively. So far 28127 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 824.70 on 01-Aug-2023 and a 52 week low of Rs. 614.05 on 28-Sep-2022. Last one week high and low of the scrip stood at Rs. 8...
JSW Steel moves up on entering into joint venture agreement with JFE Steel Corporation
JSW Steel moves up on entering into joint venture agreement with JFE Steel Corporation
Source: Accord Fintech
3/08/2023 11:46:38 AM
Metals Sector Update : Arcelor Mittal Q2CY23 result review By ICICI Securities ArcelorMittal’s (MT) Q2CY23 EBITDA of USD 2.6bn (down 50% YoY, up 43% QoQ) surpassed street estimates by 9%. Key points: 1) Positive price-cost spread offset the impact of lower volumes; 2) steel spreads, aided by lower inventories, remained higher than the historical average; 3) CY23 steel consumption growth estimates have been reduced for the Western world, but maintained for India at 6-8% YoY; 4) plans are afoot to increase the capacity of AMNS India by ~2x to 15mtpa in the medium te...
Metals Sector Update : Arcelor Mittal Q2CY23 result review By ICICI Securities
Metals Sector Update : Arcelor Mittal Q2CY23 result review By ICICI Securities
Source: ICICI Securities
29/07/2023 11:16:08 AM
Jindal Stainless surges on reporting 45% rise in Q1 consolidated net profit Jindal Stainless is currently trading at Rs. 385.00, up by 7.80 points or 2.07% from its previous closing of Rs. 377.20 on the BSE. The scrip opened at Rs. 380.55 and has touched a high and low of Rs. 386.55 and Rs. 380.55 respectively. So far 19214 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 386.55 on 27-Jul-2023 and a 52 week low of Rs. 112.85 on 27-Jul-2022. Last one week high and low of the scrip stood a...
Jindal Stainless surges on reporting 45% rise in Q1 consolidated net profit
Jindal Stainless surges on reporting 45% rise in Q1 consolidated net profit
Source: Accord Fintech
27/07/2023 10:48:32 AM
India`s PMO probing dumping of Chinese stainless steel - Jindal Stainless Exec India's Prime Minister's office (PMO) has launched a probe into potential dumping of Chinese stainless steel products into the country, Abhyuday Jindal, managing director of Jindal Stainless, said on Wednesday. "The Prime Minister's Office has taken up the mantle," Jindal told reporters, adding that the matter was likely being discussed internally. Stainless steel producers have petitioned the government to impose countervailing duty (CVD) on Chinese stainless stee...
India`s PMO probing dumping of Chinese stainless steel - Jindal Stainless Exec
India`s PMO probing dumping of Chinese stainless steel - Jindal Stainless Exec
Source: Reuters
26/07/2023 6:30:49 PM
India`s Jindal Stainless posts 50% jump in Q1 profit on robust domestic demand India's Jindal Stainless reported a near-50% rise in its first-quarter profit on Wednesday, helped by strong domestic demand. The company - the biggest stainless steel maker in India by volumes - posted a consolidated net profit of 7.46 billion rupees ($91 million) for the quarter ended June 30, compared to 4.98 billion rupees a year earlier. Jindal, which makes stainless steel products for sectors like transportation and construction, said revenue from operations rose 25.4% to 101....
India`s Jindal Stainless posts 50% jump in Q1 profit on robust domestic demand
India`s Jindal Stainless posts 50% jump in Q1 profit on robust domestic demand
Source: Reuters
26/07/2023 5:47:07 PM
India`s Tata Steel CEO says prices to ease in Q2 India's Tata Steel Ltd expects lower steel prices in the July-September quarter in India and Europe, aided by a fall in the prices of coking coal, a key raw material, its chief executive and managing director said on Tuesday. "In India, the Q2 (July-September) realisation will be about 3,000-3,100 rupees per tonne ($36.65-$37.87) lower than Q1 (April-June)," T.V. Narendran told Reuters in an interview, adding that prices in Europe would be 38 pounds per tonne lower in July-Se...
India`s Tata Steel CEO says prices to ease in Q2
India`s Tata Steel CEO says prices to ease in Q2
Source: Reuters
26/07/2023 9:04:24 AM
Gravita India soars on reporting 18% rise in Q1 consolidated net profit Gravita India is currently trading at Rs. 660.00, up by 24.00 points or 3.77% from its previous closing of Rs. 636.00 on the BSE. The scrip opened at Rs. 640.05 and has touched a high and low of Rs. 675.95 and Rs. 640.05 respectively. So far 24798 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 675.95 on 25-Jul-2023 and a 52 week low of Rs. 262.40 on 25-Jul-2022. Last one week high and low of the scrip stood at ...
Gravita India soars on reporting 18% rise in Q1 consolidated net profit
Gravita India soars on reporting 18% rise in Q1 consolidated net profit
Source: Accord Fintech
25/07/2023 10:33:17 AM
Metals Sector Update : Steel Domestic HRC prices rise slightly export prices remain stable By ICICI Securities HRC prices in the traders’ market rose slightly in the week ended 19th Jul’23 on optimism around stimulus measures and possible production curtailment in H2CY23 in China. Spot spread also remained stable at INR 31,800/te as slight uptick in coking coal prices was offset by higher HRC prices. In longs, however, prices continued to decline in the seasonally weak monsoon period. In China, despite government authorities pledging stimulus in key industries including steelmaking and aut...
Metals Sector Update : Steel Domestic HRC prices rise slightly export prices remain stable By ICICI Securities
Metals Sector Update : Steel Domestic HRC prices rise slightly export prices remain stable By ICICI Securities
Source: ICICI Securities Ltd
24/07/2023 3:05:17 PM
Jindal Stainless surges on completing acquisition of Jindal United Steel Jindal Stainless is currently trading at Rs. 371.10, up by 2.80 points or 0.76% from its previous closing of Rs. 368.30 on the BSE. The scrip opened at Rs. 368.25 and has touched a high and low of Rs. 374.00 and Rs. 365.25 respectively. So far 29832 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 375.00 on 12-Jul-2023 and a 52 week low of Rs. 112.85 on 27-Jul-2022. Last one week high and low of the scrip stood a...
Jindal Stainless surges on completing acquisition of Jindal United Steel
Jindal Stainless surges on completing acquisition of Jindal United Steel
Source: Accord Fintech
21/07/2023 3:04:38 PM
India`s JSW Steel says Q1 profit nearly triples on demand surge India's JSW Steel Ltd reported a first-quarter profit on Friday that nearly tripled, helped by higher sales on the back of a pickup in infrastructure activity. Consolidated net profit climbed to 24.28 billion Indian rupees ($296 million) in the quarter ended June 30 from 8.39 billion rupees a year earlier, when the results were impacted by a tax on steel exports. While overall steel sales jumped 27% from a year ago, JSW Steel said it also reported increased price realisations due to...
India`s JSW Steel says Q1 profit nearly triples on demand surge
India`s JSW Steel says Q1 profit nearly triples on demand surge
Source: Reuters
21/07/2023 12:53:06 PM
JSW Ispat Special Products inches up as its consolidated net loss narrows to Rs 53 crore in Q1FY24 JSW Ispat Special Products is currently trading at Rs. 36.91, up by 0.02 points or 0.05% from its previous closing of Rs. 36.89 on the BSE. The scrip opened at Rs. 37.11 and has touched a high and low of Rs. 37.90 and Rs. 36.81 respectively. So far 73863 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 38.00 on 10-Jul-2023 and a 52 week low of Rs. 24.55 on 21-Jul-2022. Last one week high and low of the scrip sto...
JSW Ispat Special Products inches up as its consolidated net loss narrows to Rs 53 crore in Q1FY24
JSW Ispat Special Products inches up as its consolidated net loss narrows to Rs 53 crore in Q1FY24
Source: Accord Fintech
19/07/2023 12:29:22 PM
Indian government may delay Hindustan Zinc share sale - sources The Indian government may postpone its plans to sell its stake in Hindustan Zinc until a turnaround in the industry's fortunes, following advice from merchant bankers, two government sources told Reuters. The government though, still hopes to push through the long-delayed sale this financial year, one of the sources said. The government plans to sell its over 29% stake in tranches, starting with the sale of about 5% stake. Vedanta Group holds a 64.9% stake. Hindustan Zinc's s...
Indian government may delay Hindustan Zinc share sale - sources
Indian government may delay Hindustan Zinc share sale - sources
Source: Accord Fintech
19/07/2023 12:07:56 PM
Metals & Mining Sector Update : Steel HRC prices rise for the first time in 15 weeks By ICICI Securities Ltd Domestic HRC prices rose by Rs150/te on an average in the week ended 12th Jul’23, the first rise in past 15 weeks on the back of reduced import pressures and roll-over of prices by major steel producers. Spot spread too expanded by a further 1% WoW owing to decline in coking coal prices – down US$3/te WoW. That said, longs continue to face seasonal weakness, hence rebar prices in both primary and secondary markets too were down during the week. In China, the government is expected...
Metals & Mining Sector Update : Steel HRC prices rise for the first time in 15 weeks By ICICI Securities Ltd
Metals & Mining Sector Update : Steel HRC prices rise for the first time in 15 weeks By ICICI Securities Ltd
Source: ICICI Securities Ltd
17/07/2023 3:27:40 PM
Metals & Mining Sector Update : China trade data Demand woes evident By ICICI Securities Ltd China’s trade data for Jun’23 was subdued as demand uptick in its home market has been less than expected. Key highlights: 1) copper imports in refined form fell YoY for the seventh successive month and copper concentrate imports too slipped MoM; 2) steel exports fell on YoY basis for the first time since Apr’22; 3) thermal coal imports remained robust; 4) aluminium exports increased slightly MoM, though are still lower YoY. Going ahead, we will keep a watch on the demand fr...
Metals & Mining Sector Update : China trade data Demand woes evident By ICICI Securities Ltd
Metals & Mining Sector Update : China trade data Demand woes evident By ICICI Securities Ltd
Source: ICICI Securities Ltd
15/07/2023 2:58:40 PM
Tata Metaliks gains on reporting over 3-fold jump in Q1 net profit Tata Metaliks is currently trading at Rs. 827.15, up by 3.00 points or 0.36% from its previous closing of Rs. 824.15 on the BSE. The scrip opened at Rs. 835.15 and has touched a high and low of Rs. 835.90 and Rs. 817.95 respectively. So far 6176 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 874.35 on 19-Jan-2023 and a 52 week low of Rs. 645.00 on 14-Jul-2022. Last one week high and low of the scrip stood at R...
Tata Metaliks gains on reporting over 3-fold jump in Q1 net profit
Tata Metaliks gains on reporting over 3-fold jump in Q1 net profit
Source: Accord Fintech
14/07/2023 2:25:34 PM
Gallantt Ispat trades higher on the BSE Gallantt Ispat is currently trading at Rs. 71.96, up by 0.52 points or 0.73% from its previous closing of Rs. 71.44 on the BSE. The scrip opened at Rs. 71.00 and has touched a high and low of Rs. 74.45 and Rs. 70.40 respectively. So far 30608 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 75.70 on 10-Jul-2023 and a 52 week low of Rs. 46.00 on 23-May-2023. Last one week high and low of the scrip stood at Rs. 75...
Gallantt Ispat trades higher on the BSE
Gallantt Ispat trades higher on the BSE
Source: Accord Fintech
12/07/2023 4:18:44 PM
Hilton Metal Forging jumps on inking MoU with Arab Organization for Industrialization Hilton Metal Forging is currently trading at Rs. 169.00, up by 2.30 points or 1.38% from its previous closing of Rs. 166.70 on the BSE. The scrip opened at Rs. 169.95 and has touched a high and low of Rs. 170.00 and Rs. 165.00 respectively. So far 2284 shares were traded on the counter. The BSE group 'T' stock of face value Rs. 10 has touched a 52 week high of Rs. 173.90 on 22-Jun-2023 and a 52 week low of Rs. 36.47 on 12-Jul-2022. Last one week high and low of the scrip stoo...
Hilton Metal Forging jumps on inking MoU with Arab Organization for Industrialization
Hilton Metal Forging jumps on inking MoU with Arab Organization for Industrialization
Source: Accord Fintech
12/07/2023 2:03:07 PM
Gallantt Ispat zooms on entering into agreement with East Coast Railway Gallantt Ispat is currently trading at Rs. 73.35, up by 4.72 points or 6.88% from its previous closing of Rs. 68.63 on the BSE. The scrip opened at Rs. 67.36 and has touched a high and low of Rs. 75.70 and Rs. 67.36 respectively. So far 54910 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 75.70 on 10-Jul-2023 and a 52 week low of Rs. 46.00 on 23-May-2023. Last one week high and low of the scrip stood at Rs. 75...
Gallantt Ispat zooms on entering into agreement with East Coast Railway
Gallantt Ispat zooms on entering into agreement with East Coast Railway
Source: Accord Fintech
10/07/2023 11:20:28 AM
JSW Ispat Special Products gains on reporting 74% growth in crude steel production in Q1FY24 JSW Ispat Special Products is currently trading at Rs. 35.38, up by 0.11 points or 0.31% from its previous closing of Rs. 35.27 on the BSE. The scrip opened at Rs. 35.61 and has touched a high and low of Rs. 35.69 and Rs. 35.11 respectively. So far 46142 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 36.03 on 03-Jul-2023 and a 52 week low of Rs. 23.20 on 07-Jul-2022. Last one week high and low of the scrip sto...
JSW Ispat Special Products gains on reporting 74% growth in crude steel production in Q1FY24
JSW Ispat Special Products gains on reporting 74% growth in crude steel production in Q1FY24
Source: Accord Fintech
7/07/2023 12:41:49 PM
Gallantt Ispat surges on investing around Rs 300 crore in Pellet Plant unit Gallantt Ispat is currently trading at Rs. 70.10, up by 2.25 points or 3.32% from its previous closing of Rs. 67.85 on the BSE. The scrip opened at Rs. 66.50 and has touched a high and low of Rs. 72.00 and Rs. 66.50 respectively. So far 30136 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 75.60 on 29-Jul-2022 and a 52 week low of Rs. 46.00 on 23-May-2023. Last one week high and low of the scrip stood at Rs. 72...
Gallantt Ispat surges on investing around Rs 300 crore in Pellet Plant unit
Gallantt Ispat surges on investing around Rs 300 crore in Pellet Plant unit
Source: Accord Fintech
7/07/2023 11:06:05 AM
India expects EU carbon tax to hit exports of steel, iron ore and cement Already facing subdued demand from developed nations, India's exports are likely to be hit by the European Union's 20% to 35% tariffs on high-carbon goods like steel, iron ore and cement, the finance ministry said in a report released on Thursday. In April, the EU approved the world's first plan to impose a levy on high-carbon goods imports from 2026, aiming to become a net zero emitter of greenhouse gases by 2050, some 20 years earlier than India's target. Reporting of ...
India expects EU carbon tax to hit exports of steel, iron ore and cement
India expects EU carbon tax to hit exports of steel, iron ore and cement
Source: Reuters
6/07/2023 11:23:07 AM
JSW Steel trades higher on reporting 11% rise in consolidated crude steel production in Q1FY24 JSW Steel is currently trading at Rs. 796.40, up by 3.95 points or 0.50% from its previous closing of Rs. 792.45 on the BSE. The scrip opened at Rs. 804.25 and has touched a high and low of Rs. 804.30 and Rs. 790.00 respectively. So far 51744 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 808.00 on 03-Jul-2023 and a 52 week low of Rs. 541.05 on 06-Jul-2022. Last one week high and low of the scrip stood at Rs. 8...
JSW Steel trades higher on reporting 11% rise in consolidated crude steel production in Q1FY24
JSW Steel trades higher on reporting 11% rise in consolidated crude steel production in Q1FY24
Source: Accord Fintech
6/07/2023 10:51:57 AM
Tata Steel rises on launching Urja programme Tata Steel is currently trading at Rs. 113.05, up by 0.65 points or 0.58% from its previous closing of Rs. 112.40 on the BSE. The scrip opened at Rs. 112.40 and has touched a high and low of Rs. 113.30 and Rs. 112.35 respectively. So far 790741 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 124.30 on 19-Jan-2023 and a 52 week low of Rs. 83.83 on 06-Jul-2022. Last one week high and low of the scrip stood at Rs. ...
Tata Steel rises on launching Urja programme
Tata Steel rises on launching Urja programme
Source: Accord Fintech
5/07/2023 11:27:49 AM
Hindustan Zinc rises as its mined metal production grows in Q1 Hindustan Zinc is currently trading at Rs. 311.45, up by 2.00 points or 0.65% from its previous closing of Rs. 309.45 on the BSE. The scrip opened at Rs. 310.05 and has touched a high and low of Rs. 312.65 and Rs. 310.05 respectively. So far 37755 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 383.00 on 19-Jan-2023 and a 52 week low of Rs. 242.40 on 06-Jul-2022. Last one week high and low of the scrip stood at ...
Hindustan Zinc rises as its mined metal production grows in Q1
Hindustan Zinc rises as its mined metal production grows in Q1
Source: Accord Fintech
4/07/2023 4:11:45 PM
Lloyds Metals zooms on reporting 45% growth in DRI production Lloyds Metals is currently trading at Rs. 411.95, up by 16.25 points or 4.11% from its previous closing of Rs. 395.70 on the BSE. The scrip opened at Rs. 395.20 and has touched a high and low of Rs. 412.30 and Rs. 395.20 respectively. So far 169847 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 413.40 on 3-Jul-2023 and a 52 week low of Rs. 132.45 on 25-Jul-2022. Last one week high and low of the scrip stood at ...
Lloyds Metals zooms on reporting 45% growth in DRI production
Lloyds Metals zooms on reporting 45% growth in DRI production
Source: Accord Fintech
3/07/2023 11:13:24 AM
Earnings of domestic non-ferrous metal industry players to remain weak in FY24: ICRA Credit Rating Agency ICRA in its latest report has said that the earnings of domestic non-ferrous metal industry players is expected to remain weak in the ongoing fiscal (FY24), after a lacklustre performance in the last fiscal. Significant metal price corrections remain the key headwind affecting the margins, with no immediate relief in sight. The moderation in earnings, combined with the committed expansion plans of the players, is expected to increase the industry’s leverage in FY24....
Earnings of domestic non-ferrous metal industry players to remain weak in FY24: ICRA
Earnings of domestic non-ferrous metal industry players to remain weak in FY24: ICRA
Source: Accord Fintech
28/06/2023 11:27:45 AM