GOLDEN RULES FOR TRADING

Metal Stocks Outlook for the week - - 30.03.2015 to 01.04.2015

Metal Stocks Outlook for the week - - 30.03.2015 to 01.04.2015
  www.rupeedesk.in )

Broadly, stocks of metal companies are unlikely to change much next week, but some stockspecific movement is possible. Most of the stocks in the sector are seen trading sideways next week.

Among specific stocks, Jindal Steel and Power Ltd will be most watched out for at the opening on Monday as the Delhi high court yesterday appointed Coal India Ltd as custodian of the two operational coal blocks--Gare Palma IV/2, Gare Palma IV/3--auction for which was scrapped by the government after the Naveen Jindal-led company emerged as successful bidder.

Stocks of Jindal Steel and Power Ltd last trading day ended up 4.6% at 157.20 rupees as the
Delhi High Court Thursday observed that the government's cancellation of winning bids for three coal blocks by the company seemed "unfair".


The court has said that this is an interim measure and the final operator of the coal blocks would be decided when it delivers final judgement. The court barred Coal India from creating equity on the coal blocks.