Metal Stocks Outlook – 26 to 30.05.2014
(www.rupeedesk.in)
(www.rupeedesk.in)
While the CNX Metal Index has rallied 13.5% over the last
week riding on the
momentum in the markets, metals stocks are likely to react
to the results of sector leaders
JSW Steel and Hindalco Industries which will report their
earnings next week. JSW Steel
will detail its earnings on Tuesday while Hindalco
Industries will post its results on
Thursday. JSW Steel Ltd is seen posting a 106% year-on-year
increase in its Jan-Mar
consolidated net profit to 6.09 bln rupees due to a 140 bps
year-on-year rise in operating
profit margins.
However, net sales of the Aditya Birla Group company is seen
up 7% on year to 73.76
bln rupees. During the week, Sesa Sterlite was the top
gainer, rising 24.84% as Standard
& Poor revised its outlook on the parent company Vedanta
Resources to stable from
negative, and further fuelled by market rumours that group
company Cairn India may be
merged into the metal major.
