Oct 26 2023, 10:08
6 metal stocks that can deliver up to 44% returns:
If the market is falling because of fear of economic slowdown or there are fears of a recession, then metals would be the first sector to get hit. The question is whether this round of fall in the Indian market is due to those fears? The answer is most likely No. What the Indian market is witnessing is correction of valuations, which have gone extremely high due to excess liquidity chasing Indian stocks for the past six months. So, there is a good chance that sectors like metals which are more impacted by what is happening in China would be able to perform much better even in bearish times, as the Chinese government makes another round of effort to pull the economy out of the slowdown.
It is clear that metals have been in their own bearish markets and valuations of the metal stocks had come down much before the correction which we are witnessing in other parts of the markets.
China is making an effort to push its growth, global metal prices tend to see an up move and so do the stocks. The reason is simple, China is the biggest guzzler of metal, be it steel, copper, aluminum.
selected stocks wherein the average stock report score is at least 6. Further, the stock must have an overall rating of either a “Strong Buy” or a “Buy” or a “Hold”. The list has then been sorted with the highest potential stock coming on the top of the list.
Oct 25, 2023
MISSING: summary MISSING: current-rows.
Company Name Avg Score Reco Analyst Count Upside Potential % Inst Stake % Market Cap Type Market Cap Rs Cr
JSPL 10 Buy 24 51.4 20.2 Large 65,316
SAIL 6 Hold 23 44.0 15.3 Large 34,354
Tata Steel 8 Buy 27 39.2 27.1 Large 146,658
Hindalco 10 Buy 24 36.9 39.7 Large 102,619
JSW Steel 7 Hold 28 32.2 16.4 Large 182,908
National Aluminium Co 9 Buy 9 28.2 25.0 Mid 16,495
Calculated from highest price target given by analysts
Jindal Steel and Power
Limited (JSPL) is a steel producer. The Company's segments include Iron & Steel, Power and Other. The Iron and steel products segment comprises of manufacturing of Steel products, sponge iron, pellets and castings.
Steel Authority of India
Limited is a company, which is engaged primarily in steel manufacturing business in the country. The Company's segments include Bhilai Steel Plant, Durgapur Steel Plant, Rourkela Steel Plant, Bokaro Steel Plant, IISCO Steel Plant, AlloySteels Plant, Salem Steel Plant, Visvesvaraya Iron & Steel Plant and Others.
Tata Steel Limited is a steel manufacturing company. The Company is engaged in the business of steel making, including raw material and finishing operations.
Hindalco Industries Limited is a metals flagship company. The Company's Novelis segment represents Novelis Inc, a wholly owned foreign subsidiary, engaged in producing and selling aluminum sheet and light gauge products, which operates in North America, South America, Europe and Asia.
Hindalco Industries Limited is a metals flagship company. The Company's Novelis segment represents Novelis Inc, a wholly owned foreign subsidiary, engaged in producing and selling aluminum sheet and light gauge products, which operates in North America, South America, Europe and Asia.
National Aluminium Company
Limited is a company that is primarily engaged in the business of manufacturing and selling of alumina and aluminum.
source: et
Oct 26 2023, 15:57
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