Metal Stocks
Outlook for the week – 02 to 06.02.2015
( www.rupeedesk.in )
Stock of metal companies are
expected to trade range bound next week with investors eyeing
Nifty metal majors Tata Steel and
Jindal Steel and Power which are scheduled to detail their
results next week.
The market will also eye the
Reserve Bank of India's policy meet on Feb 3. Most market
participants believe that a
further rate cut will only be possible after the Union Budget.
Tata Steel Ltd is expected to
post a consolidated Oct-Dec net profit of 82 mln rupees in Oct-Dec,
down an enormous 98% from a year
ago. Net sales of the company are expected to be 336.75 bln
rupees, down 8%. The estimates of
earnings of Tata Steel range from an estimate of a net loss of
1.1 bln rupees to a net profit of
3.6 bln rupees as the impact of sourcing iron ore through imports
and from NDMC, and reduced steel
prices.
Jindal Steel is scheduled to
detail its results on Tuesday. Lower realisations along with deallocation
of captive coal block powering
power and sponge iron units are likely to pull down the
company's consolidated Oct-Dec
net profit by 57% on year at 2.42 bln rupees. Net sales of the company are seen falling 1% on
year to 52.93 bln rupees.