Metals Stocks Outlook For The Week - 22 To 26.10.2018
The September quarter earnings of JSW Steel and Hindustan Zinc will be in focus next week, while the overall movement of metal and mining shares will depend on the trend in the broader market. Hind Zinc will report its earnings on Monday, and a 16% year-on-year fall in zinc output and 14% fall in the price of the metal is expected to weigh on its earnings. The company's guidance on cost of producing zinc will also be watched. The operating profit made by JSW Steel on every tonne of steel it sold in India during the September quarter is expected to decline sequentially because of a fall in prices, especially those of long products. More than the performance in Jul-Sep though, any commentary related to the acquisition of stressed assets will be in focus. JSW Steel is currently in a race to acquire Essar Steel and Bhushan Power and Steel. The company will announce its earnings on Thursday.
Source : Cogencis Information Services Ltd.
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The September quarter earnings of JSW Steel and Hindustan Zinc will be in focus next week, while the overall movement of metal and mining shares will depend on the trend in the broader market. Hind Zinc will report its earnings on Monday, and a 16% year-on-year fall in zinc output and 14% fall in the price of the metal is expected to weigh on its earnings. The company's guidance on cost of producing zinc will also be watched. The operating profit made by JSW Steel on every tonne of steel it sold in India during the September quarter is expected to decline sequentially because of a fall in prices, especially those of long products. More than the performance in Jul-Sep though, any commentary related to the acquisition of stressed assets will be in focus. JSW Steel is currently in a race to acquire Essar Steel and Bhushan Power and Steel. The company will announce its earnings on Thursday.
Source : Cogencis Information Services Ltd.
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