www.rupeedesk.in
Even as metal stocks outperformed the broad market yesterday, with Hindalco Industries rising over 5% intraday, its view on heavyweight stocks in the sector, attributing today's gains to value buying. Investors will also take cues from China's purchasing managers index data, due Saturday. China is the world's largest consumer and producer of metal and thus Chinese PMI will have a large bearing on metal stocks.
Steel sector as demand is feeble and volumes will remain under pressure until Oct-Mar 2014-15. The believes that Jindal Steel and Power is best placed in the steel space due to its high degree of visibility, backed by greater capacity and raw-material integration.
Even as metal stocks outperformed the broad market yesterday, with Hindalco Industries rising over 5% intraday, its view on heavyweight stocks in the sector, attributing today's gains to value buying. Investors will also take cues from China's purchasing managers index data, due Saturday. China is the world's largest consumer and producer of metal and thus Chinese PMI will have a large bearing on metal stocks.
Steel sector as demand is feeble and volumes will remain under pressure until Oct-Mar 2014-15. The believes that Jindal Steel and Power is best placed in the steel space due to its high degree of visibility, backed by greater capacity and raw-material integration.
