Metals Stocks Outlook For The Week - 30.07.2018 To 03.08.2018
Stocks of metal and mining companies are likely to remain positive next week as concerns of a trade
war recede. The Nifty Metal index rose nearly 7% this week, outperforming benchmark indices. Nifty
50 constituent Vedanta will announce its June quarter earnings on Tuesday. Permanent closure of its copper plant in Tamil Nadu, ban on iron ore mining in Goa, and a fall in prices of most base metals are likely to hit its earnings hard. Steel Authority of India will announce its earnings on Aug 3. The government-owned steel maker is seen reporting a net profit of 6.26 bln rupees as against a loss in the year-ago period. Metal companies will be in focus overall as well because most steel makers revise prices at the start of the month.
Source : Cogencis Information Services Ltd.
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Stocks of metal and mining companies are likely to remain positive next week as concerns of a trade
war recede. The Nifty Metal index rose nearly 7% this week, outperforming benchmark indices. Nifty
50 constituent Vedanta will announce its June quarter earnings on Tuesday. Permanent closure of its copper plant in Tamil Nadu, ban on iron ore mining in Goa, and a fall in prices of most base metals are likely to hit its earnings hard. Steel Authority of India will announce its earnings on Aug 3. The government-owned steel maker is seen reporting a net profit of 6.26 bln rupees as against a loss in the year-ago period. Metal companies will be in focus overall as well because most steel makers revise prices at the start of the month.
Source : Cogencis Information Services Ltd.
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