Metal Stocks Outlook
for the week – 18 to 22.07.2016
(Seen trading with
positive bias next week)
Stocks of major metal and mining companies are seen trading
with a positive bias next week, with
markets eyeing for cues from Apr-Jun earnings and
improvement in the outlook for base metals. Focus will be on shares of Hindustan Zinc, which will announce its
Apr-Jun earnings on Wednesday.
Steel companies' realisations are seen improving in the
quarter due to the imposition of the minimum
import price. Steel prices maintained their MIP (minimum
import price) led support (although have
come under pressure lately, which we believe is more of a
seasonal factor), up 10% on quarter.
Hindalco Industries and JSW Steel remain the top picks.