Metal Stocks Outlook For The Week – 27.02.2017 to 03.03.2017
Metal Stocks Outlook For The Week – 27.02.2017 to 03.03.2017
( www.rupeedesk.in )
Stocks of major mining and metal companies are likely to trade in a range next week and no clear and
predictable trend can be ascertained at present. Any major trigger for these stocks is unlikely next week and movement may be impacted by news flow, metal prices in the international markets, and sentiment in the broader market. Not much has changed in terms of volatility in prices of both ferrous and non-ferrous metals, but commodity prices have generally been on a rise, which may provide some support to metal and mining companies. Any significant movement in prices of raw materials like coking coal, can also have an impact on prices and affect metal companies' stocks. Vew of this sector, as key policy decisions in China and the US could define the medium-term roadmap for the global metal and mining sector. We expect Bullish on stocks of Hindalco Industries and Vedanta. Aluminium and iron-ore have done well for Vedanta, he said, adding that the company has also ramped up its capacity, which is likely to reflect in its topline in a few quarters. For Hindalco, aluminium and copper will bring gains. Aluminium accounts for 17-18% of Hindalco's revenues while copper contributes 7-8%. On charts, Hindalco may face resistance at 190 rupees, while support is likely at 176 rupees.
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Metal Stocks Outlook For The Week – 27.02.2017 to 03.03.2017
( www.rupeedesk.in )
Stocks of major mining and metal companies are likely to trade in a range next week and no clear and
predictable trend can be ascertained at present. Any major trigger for these stocks is unlikely next week and movement may be impacted by news flow, metal prices in the international markets, and sentiment in the broader market. Not much has changed in terms of volatility in prices of both ferrous and non-ferrous metals, but commodity prices have generally been on a rise, which may provide some support to metal and mining companies. Any significant movement in prices of raw materials like coking coal, can also have an impact on prices and affect metal companies' stocks. Vew of this sector, as key policy decisions in China and the US could define the medium-term roadmap for the global metal and mining sector. We expect Bullish on stocks of Hindalco Industries and Vedanta. Aluminium and iron-ore have done well for Vedanta, he said, adding that the company has also ramped up its capacity, which is likely to reflect in its topline in a few quarters. For Hindalco, aluminium and copper will bring gains. Aluminium accounts for 17-18% of Hindalco's revenues while copper contributes 7-8%. On charts, Hindalco may face resistance at 190 rupees, while support is likely at 176 rupees.
