For Quick Alerts
For Daily Alerts

Metal stocks rally on value buying


Metal stocks which were beaten down in the last few trading sessions continue to gain on value buying. Shares of Tata Steel were up 4 per cent in trade, while Hindalco rallied 2 per cent, Sesa Goa was up 4 per cent and Jindal Steel was up 3 per cent.

Metal stocks had only recently hit their 52-week lows on sustained selling pressure following poor growth rates in India.

Some of the metal stocks are quoting at very low price to earnings multiples and most are trading below book values. This has prompted value buying in these stocks in the last few trading sessions.

Read more about: tata steel sesa goa sterlite
Story first published: Thursday, August 22, 2013, 10:19 [IST]
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'


We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more