3 metal stocks to keep an eye on August 19

3 metal stocks to keep an eye on August 19

Indian Market
by 5paisa Research Team Last Updated: 2022-08-19T11:18:22+05:30

On Friday morning, the headline indices, i.e. Nifty 50 and Sensex are trading flat following week global cues.

The Sensex closed at 60,302.88, up by 5 points or 0.01% and the Nifty was at 17,955.80, up by 1 point or 0.01%.

BSE Metal index is trading lower by 46.67 points or 0.24%, at 19,189.51, whereas the Nifty Metal index is at 6,006.30, higher by 0.49%.

Following are the three metals stocks to keep an eye on August 19:

Coal India Limited: It has produced over 207 million tonnes of coal during the past four months, according to Union Minister of Coal, Mines, and Parliamentary Affairs Pralhad Joshi. The Minister also announced that the Ministry of Coal will soon put up for auction more than 107 coal blocks. The shares of the company are trading lower by 0.81% on the BSE.

Steel Authority of India Limited: According to a business official, the state-owned steel producer SAIL will create certain unique rails for high-speed freight corridors and metro rail projects this year. At its Bhilai Steel Plant (BSP) in Chhattisgarh, SAIL has established a facility for the manufacturing of head-hardened (HH) rails. Shares of SAIL were down by 0.18% on the BSE today.

Hindustan Zinc Ltd: Five investment bankers have been chosen to help the government sell its remaining 29.53% interest in Hindustan Zinc Ltd (HZL) in instalments, including ICICI Securities, Axis Capital, and Citigroup Global Markets. ICICI Securities, Axis Capital, Citigroup Global Markets, HDFC Bank, and IIFL Securities are the five chosen merchant bankers. Early in July, DIPAM (the Department of Investment and Public Asset Management) requested merchant bankers to submit proposals for managing the remaining interest in HZL, with a deadline of 28 July. Shares of Hindustan Zinc are trading 0.27% lower on the BSE.

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