3 metal stocks to keep an eye on September 23

3 metal stocks to keep an eye on September 23 | 5Paisa|

by 5paisa Research Team Last Updated: Dec 10, 2022 - 01:29 am 15.1k Views
Listen icon

On Friday morning, the headline indices, i.e. Nifty 50 and Sensex continued their losing streak as markets globally are reacting to the FED rate hike and depreciating currency. 

The Sensex is trading at 58,616.35, down by 503.37 points or 0.82% and the Nifty was at 17,486.10, down by 143.70 points or 0.82%. 

BSE Metal index is also trading lower by 49.89 points or 0.26%, at 18,892.88, whereas the Nifty Metal index is at 6,075.40, down by 0.42%. 

Following are the three metals stocks to keep an eye on September 23:

Tata Steel Limited: The Tata Group's Board of Directors gave its approval to the merger of all its metal businesses into Tata Steel. According to a BSE filing, the board of the firm met on Thursday and approved the merger of the seven metal companies into Tata Steel. Tata Steel Long Products Limited, The Tinplate Company of India Limited, Tata Metaliks Limited, TRF Limited, The Indian Steel & Wire Products Limited, Tata Steel Mining Limited, and S & T Mining Company Limited are the seven businesses that will be amalgamated into Tata Steel. The shares of Tata Steel are trading higher by 1.30% on the BSE today.

NALCO Limited: In the fiscal year 2021–2022, The National Aluminium Company Limited (NALCO) reported its highest-ever sales turnover of Rs 14,181 crore and its highest-ever profit after tax of Rs 2,952 crore. This was made public on Thursday during the Central PSU's 41st Annual General Meeting (AGM) in the capital of Odisha. By operating all 960 of its pots at its smelter plant, the Navaratna PSU announced the highest-ever production of aluminium cast metal—4,60,000 tonnes—resulting in 100% capacity utilisation for the first time ever. In a similar vein, the Damanjodi mines and refinery complex announced the highest-ever bauxite production, recording a benchmark tonnage of 75,11,075 tonnes. The shares of NALCO were down by 0.93%, on the BSE today.

Welspun Corporation Limited: After Welspun Corp. Ltd and its subsidiary Nauyaan Shipyard Pvt Ltd acquired some assets belonging to ABG Shipyard Ltd., the company's shares surged to their highest level in over 14 years. In a filing with the market, the pipe manufacturer said that it had paid Rs 659 crore to secure the assets of ABG Shipyard, which was implementing an insolvency resolution plan. Ships that have only been partially completed and scrap totalling more than 1.5 lakh tonnes are among the assets acquired. Welspun claimed they might be applied to offshore wind, oil, and gas structures, ship repair, green steel, shipbreaking, EV ships, and defence and commercial shipbuilding. The shares of the company are trading 2.22%, lower on the NSE on Friday. 

Share Market Today

How do you rate this article?


Start Investing in 5 mins*

Rs. 20 Flat Per Order | 0% Brokerage


About the Author

Our research team is composed of some highly qualified research professionals, their expertise range across sectors.


Investment/Trading in securities Market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equites and Derivatives can be substantial.
Open Free Demat Account
Resend OTP
Please Enter OTP
Mobile No. belongs to

By proceeding, you agree to the T&C.

Latest News
What you must know about Accent Microcell IPO?

Accent Microcell Ltd is a 11 year old company, incorporated in the year 2012 to produce high-quality cellulose-based excipients. These excipients find application in the pharmaceutical, nutraceutical, food, cosmetic and other industries.

Electric Two-Wheeler Sales Surge in November: A Close Examination

In November, sales of electric two-wheelers witnessed impressive growth, totaling just over 91,000 units. This marks a nearly 20% increase compared to the same month last year and a 22% rise from October.

HUL Strategically Divides Beauty and Personal Care for Modern Beauty Brand Challenges

Hindustan Unilever Ltd (HUL) is making strategic moves to enhance its competitiveness in the beauty and personal care market. Starting April 1, the company will split its beauty and personal care division into two separate entities—beauty and wellbeing (B&W) and personal care (PC).