Metal Stocks Outlook For The Week – 30.10.2017 To 03.11.2017
Metal Stocks Outlook For The Week – 30.10.2017 To 03.11.2017
( www.rupeedesk.in )
Action in stocks of metal and mining companies is expected to be stock specific next week as most stocks will take cues from Jul-Sep earnings to be detailed during the week. Tata Steel, Hindalco Industries and Vedanta are the Nifty 50 constituents are reporting earnings next week, while others include JSW Steel. Anticipation of robust earnings led to stocks of most of these companies were
witnessing a strong run during the week, with Steel Authority of India outpacing gains by rising more than a third. The Nifty Metal index rose more than 3% during the week, outperforming benchmark indices for the fifth week in a row. Tata Steel, which will report earnings on Monday, is expected to post a consolidated net profit of 17.30 bln rupees for Jul-Sep, almost double sequentially. Higher volumes, increased pricing power especially in the flat products segment in the domestic market and robust performance of the European operations are expected to help the steelmaker post a strong performance. Improved pricing is also expected to reflect in JSW Steel's earnings, whose consolidated net profit is likely to rise 76% on quarter to 11.04 bln rupees. The company will report its earnings on Tuesday. Vedanta which will detail its earnings on Thursday is expected to benefit from robust performance across segments, particularly in aluminium and zinc. Hindalco Industries will report earnings next Friday, while US-based subsidiary Novelis Inc will do so on Thursday.
Source : Cogencis Information Services Ltd.
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( www.rupeedesk.in )
Action in stocks of metal and mining companies is expected to be stock specific next week as most stocks will take cues from Jul-Sep earnings to be detailed during the week. Tata Steel, Hindalco Industries and Vedanta are the Nifty 50 constituents are reporting earnings next week, while others include JSW Steel. Anticipation of robust earnings led to stocks of most of these companies were
witnessing a strong run during the week, with Steel Authority of India outpacing gains by rising more than a third. The Nifty Metal index rose more than 3% during the week, outperforming benchmark indices for the fifth week in a row. Tata Steel, which will report earnings on Monday, is expected to post a consolidated net profit of 17.30 bln rupees for Jul-Sep, almost double sequentially. Higher volumes, increased pricing power especially in the flat products segment in the domestic market and robust performance of the European operations are expected to help the steelmaker post a strong performance. Improved pricing is also expected to reflect in JSW Steel's earnings, whose consolidated net profit is likely to rise 76% on quarter to 11.04 bln rupees. The company will report its earnings on Tuesday. Vedanta which will detail its earnings on Thursday is expected to benefit from robust performance across segments, particularly in aluminium and zinc. Hindalco Industries will report earnings next Friday, while US-based subsidiary Novelis Inc will do so on Thursday.
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