3 metal stocks to watch out for today!
The benchmark indices saw significant increases in mid-morning trade as they traded in a restricted range.
The sentiment was buoyed by encouraging global cues. Above 18,300, the Nifty traded. All of the sectoral indices on the NSE were in the green, except for the Nifty FMCG index. The S&P BSE Sensex, the barometer index, was up 992.03 points or 1.64% to 61,605.73 at 11:30 IST. To reach 18,310.50, the Nifty 50 index increased 282.30 points or 1.57%.
The frontline indices outperformed the overall market. While the S&P BSE Small-Cap index increased by 0.66%, the S&P BSE Mid-Cap index increased by 0.71%. Market breadth was substantial. 1,985 shares increased and 1,319 shares decreased on the BSE and 134 shares in total remained unchanged.
Keep a close eye on these trending metal stocks on Friday, November 11 2022:
Jindal Steel & Power: Despite near-term challenges, the company saw healthy Steel Demand over the long term. Also, capex of Rs 7.5 trillion is announced for the FY23 Budget. Govt. initiatives (NIP, Gati Shakti, PLI scheme, etc.) supportive of steel demand. The shares of Jindal Steel soared by more than 5% in today’s trading session.
Coal India: CIL is going to publish a press release with the caption “CIL’s capex soars 33% to Rs 7,027 crore in H1FY23. The PAT in Q2FY23 stood at Rs 7687.48 crore as compared to Rs 3643.24 crore in Q2FY22. The shares are trading with small gains in today's trading session.
JSW Steel: JSW Steel reported standalone Crude Steel production for October 2022 at 17.76 lakh tonnes, a growth of 25% YoY on a standalone basis. The capacity utilisation improved to 93% in October ’22 from 89% in September ’22. The JSW steel shares rose by more than 2 per cent and were trading at Rs 720.95 per share.
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