Metal Stocks Outlook for the week - - 30.03.2015 to 01.04.2015
Broadly,
stocks of metal companies are unlikely to change much next week, but some
stockspecific movement is possible. Most of the stocks in the sector are seen
trading sideways next week.
Among
specific stocks, Jindal Steel and Power Ltd will be most watched out for at the
opening on Monday as the Delhi high court yesterday appointed Coal India Ltd as
custodian of the two operational coal blocks--Gare Palma IV/2, Gare Palma
IV/3--auction for which was scrapped by the government after the Naveen
Jindal-led company emerged as successful bidder.
Stocks
of Jindal Steel and Power Ltd last trading day ended up 4.6% at 157.20 rupees
as the
Delhi
High Court Thursday observed that the government's cancellation of winning bids
for three coal blocks by the company seemed "unfair".
The
court has said that this is an interim measure and the final operator of the
coal blocks would be decided when it delivers final judgement. The court barred
Coal India from creating equity on the coal blocks.
