Mumbai: Jindal Steel and Power‘s (JSPL) strong balance sheet and prospects of a further improvement in profitability have analysts vouching for it as the steel sector‘s top pick yet again. They remain wary about state-owned peer SAIL given its high debt levels. Both the steel majors announced earnings for the June quarter last week. Most … Read more
” Reliance is the heaviest weighted counter in Nifty and it has been a thing that whenever market needs a strong support when every other counter is lacking strength then Reliance comes back into action,” says Aditya Arora, Adlytick.Have we missed the big move on Reliance or it is just breaking out? Should any pullback … Read more
The Indian stock market is trading at an all-time high as strong inflows from foreign and domestic investors rush in on the back of improved earnings and macroeconomic indicators. However, retail investors are in two minds: whether to book profits or continue investing. For investors looking for signs of real economic recovery, not just the … Read more
Last calendar year was a rough year for Indian metal stocks, and all the hopes that 2023 will bring some respite for the beaten-down sector are down in the doldrums as of now. In CY23, the Nifty Metal index recorded a decline of roughly 15%, making it the second worst performer, with Nifty Media leading … Read more
Global brokerage firm Citigroup maintained a buy rating on , Jefferies retained a buy rating on , and Citigroup maintained a buy call on post Q2 results. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: Citigroup on JSPL: Buy | Target Rs 560 Citigroup maintained a buy … Read more
Technical analysts expect the market to extend its decline this week. The Nifty is likely to touch the 17,600 level, and in case of further weakness, the index is expected to fall below the 17,200. Traders must buy stocks such as , , and Thermax; and sell , , BoB, and , analysts said. NAGARAJ … Read more
Indian market snapped its 2-day winning streak on Wednesday following muted global cues. The S&P BSE Sensex plunged more than 700 points while the Nifty50 managed to close above 15,400 levels. Sectorally, selling pressure was seen in metals, energy, realty, power, and utilities. The S&P BSE Midcap index fell 1.5 per cent, and the S&P … Read more
NEW DELHI – In its latest step to tackle hardening inflation, the government on Saturday imposed export duty on steel while increasing the export duty on iron ore and slashing the import duty on crucial raw materials for the sector to zero. The decision is aimed at bringing down domestic steel prices and shielding the … Read more
With an objective to unlock potential value, Jindal Steel and Power (JSPL) may announce the demerger of power business into a separately listed company next week, ET NOW reported. “Management believes de-merging steel and power businesses will unlock value,” sources told ET NOW. Market analysts believe power business valuation may see an upside. “Analysts estimates … Read more