Metal Stocks Outlook for the week - 29.06.2015 to 03.07.2015
Seen
range-bound on lack of fresh triggers
( www.rupeedesk.in )
Stocks
of major metal companies are seen largely range-bound next week due to lack of
fresh
triggers
in the sector. Stocks of metal companies are seen range bound next week, with a
sell-on-rise strategy. The Street would be watching for a further increase in
the import duty on steel products.
Anand
Geete, heavy industries minister, yesterday said he is discussing the issues
related to steel import duty with the finance ministry. The government on Jun
17 raised import duty on select flat and long steel products to 10% and 7.5%,
respectively, in a move aimed at saving the domestic steel industry reeling
under cheaper imports from countries like China. The industry, however, is
vying for a bigger hike.
