Metal Stocks Outlook for the week – 04 to 08.05.2015
( www.rupeedesk.in )
Stocks
of major metal companies are seen following broader market cues next week owing
to lack of sectoral triggers. Metal stocks are likely to witness some
corrections now, as their value went up during the past two weeks. Metal stocks
are in correction mode right now, and we do not see any improvement in the next
week as well. The CNX metal index fell 2.14% this week to 2,402.40 points.
Stocks
of Vedanta Ltd, formerly Sesa Sterlite, are expected to gain next week as base
metal prices have improved internationally. The Street would also eye Jindal
Steel and Power Ltd after the Central Bureau of Investigation filed charge
sheet against chairman Naveen Jindal, among others, in connection with
irregularities in coal block allocation. Stocks of Jindal Steel would continue
to slide in the upcoming week.
