Metal Stocks Outlook for the week 08 to 12.09.2014

Metal Stocks Outlook for the week 08 to 12.09.2014

Stocks of metal companies is expected to be subdued next week on caution ahead of the
Supreme Court's next hearing on the fate of the coal blocks allocated since 1993,
scheduled on Tuesday.

While the first hearing on Monday turned out to be a non-event, the second is expected to
result in some developments.

If the coal blocks are de-allocated, everything will get turned on its head. Investors will
lose confidence in India all these companies with coal blocks will see their worth

Complete de-allocation would hit Jindal Steel and Power the most, followed by Hindalco
Industries. Jindal Steel's Utkal B-1 coal block in Odisha is the key source of raw material
for its Angul plant while the Talabira-II mines have been jointly allocated to Hindalco and two state-owned companies.