Hindalco Industries Limited
HINDALCO has been trading in a consolidation zone for last five months and trading on the verge of breakout from the same. We suggest traders to accumulate fresh in the given range.
STOCK IN FOCUS
* Hindustan Zinc Ltd (HZL) outperformed the Nifty Metal Index and closed 1% higher.
* The company recently announced its 4QFY17 results and delivered the best ever quarterly performance primarily on account of record mined metal volume and strong zinc prices
* Its EBITDA rose by 187% YoY and 35% QoQ to Rs37.5bn. Mined
Automobile giant Tata Motors Group on Wednesday reported a decline of two per cent in its global wholesales, including Jaguar Land Rover (JLR), during June 2017.
According to the group, its global wholesales declined to 90,966 units over June 2016.
"Global wholesales of all Tata Motors' commercial vehicles and Tata Daewoo range in June 2017 were at 30,241 nos., lowe
A strong play on capacity expansion and innovation...
APL Apollo Tubes is amongst India's leading branded steel products manufacturers. The Company operates seven manufacturing facilities with a total capacity of 1.3 Million MTPA. It has pan India presence with units strategically located in Sikandarabad (3 units), Bangalore, Hosur, Murbad and Raip
Chinese illegal capacity – new twist?
Reason for report: Aluminium sector update
Post our call with AZ China, the client reactions and news flows on Chinese aluminium cuts have been diverse. Since then, the various industry consultants that we have interacted have been sceptical about the strength of the “illegal
Tata Steel’s Noamundi mine became the country's first iron-ore mine to have solar plant for reducing carbon footprint. "With due consideration towards Tata Steel’s initiatives towards reducing carbon footprint, a three MW solar photovoltaic(PV) power plant has been commissioned at Noamundi and this is the first solar power plant in any iron-ore mine in the country," Ta
India's steel consumption grew by 4.6 per cent to nearly 21 million tonne in the first quarter of the current fiscal over the same period in 2016 while the country's steel exports jumped by nearly 66 per cent in the April-June period, a Ministry report said.
"India's consumption of total finished steel saw a growth of 4.6 per cent in April-June 2017 at 20.999 mt (mill
NEW DELHI - India is in talks with Canada's Teck Resources Ltd, the largest North American producer of coking coal used to make steel, for long-term purchase agreements after a cyclonic disruption in Australia cut supplies earlier this year.
India has joined top buyers China and Japan to scour new markets after a powerful cyclone hit Australia that knocked out rai
Q1FY18 was characterised by weaker than expected non-ferrous performance (Vedanta, Hindalco) as slack volumes and higher costs impacted profitability – EBITDA of the pack unexpectedly drops by 28% QoQ. Top-6 steel players continue to enjoy majority of the domestic and export demand share with strong YoY volumes gains seen in Tata Steel. The month of June,’17 did witness a sharp decl
Jindal Steel & Power Limited
Among the Metal counters, JINDALSTEEL has been trading in a broader range for almost three months and now trading on the verge of breakout from the same. Traders can utilise this pause and initiate long positions in the mentioned range
7/07/2017 11:08:52 AM
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Silver futures were trading higher during evening trade in the domestic market on Thursday as investors and speculators extended their positions in the precious metal as the dollar eased triggered by a US Fed meeting that clouded the outlook for the future pace of interest rate hikes.
According to the minutes of the Fed's last policy meeting on June 13-14 released on Wednesday, th
Bhushan Steel Ltd reported a March-quarter loss that was much bigger than stated earlier in its unaudited results, as the debt-laden steelmaker was hurt by higher costs.
Audited net loss for the quarter was 11.31 billion rupees ($174.7 million), compared with the unaudited 7.57 billion rupees loss reported in May, Bhushan Steel said late on Wednesday. http://bit.ly/2uMA0Mr
JSW Steel said that it has registered 1 per cent growth in crude steel production at 3.91 MT in Q1FY18, compared to quarter a year ago. The company had reported crude steel production of 3.87MT in FY 17, the company said in a filing to the Bombay Stock Exchange.
The production of rolled products (flat) increased to 2.76 million tonnes (MT) compared to 2.74 MT in Q1FY17, representing a
The steel Ministry has said that imported steel must undergo a minimum prescribed value addition of 15 per cent in order to be eligible for procurement by government departments. Commenting on the issue, a Steel Ministry Official told the media, "All imported steel must undergo a minimum prescribed value addition of 15 per cent ... in order to be eligible for bidding under the policy."
Essar Steel has moved the Gujarat High Court against insolvency proceedings initiated by the banks on the direction of the Reserve Bank (RBI), reported PTI. The high court issued notice to the RBI and leader of the banking consortium SBI and posted the matter for Friday, media reports said. When contacted, a company spokesperson said: "Essar Steel has moved the Gujarat High Court, which ha
FCF generation after seven years
Raising TP; upgrading to Neutral
Tata Steel’s (TATA) business is structurally improving with (1) exit from weak businesses of long products and specialty businesses in the UK, (2) persistence to de-risk the British Pens
Strong steel volume growth to drive turnaround
Angul expansion on track; Maintain Buy
Capacity expansion in steel at Angul to drive strong volumes growth
* Steel mill expansion at Angul is progressing well, and once completed, JSP’s India steel capacity would increase from ~5