Metal stocks shine bright on the bourses

Heavyweight metal stocks are driving the bulls on the bourses pushing the Nifty metallic and BSE steel indices to upward push excessive.

Heavyweight metal stocks are driving the bulls on the bourses pushing the Nifty steel and BSE metallic indices to upward thrust excessive.

The Nifty metallic index is up by means of 1.3% at 2965 degree, whereas the BSE metallic index is up by 1.three% at 11255 level at 0955 hours.

shares similar to Jindal steel is up by using four.3%, Tata steel is up through 3.eight%, JSW metal is up by way of 3.1%, SAIl is up by means of 2.5%, Hindustan Zinc is up by means of 1.5%, NMDC is up with the aid of 1.2%, Hindalco is up by means of 1.1% in the Nifty metal index.

Tata steel and Hindalco were among the top Nifty gainers on Thursday’s buying and selling session.

On the opposite facet, Coal India is down by way of 0.4% and Welcorp is down via zero.2% in the Nifty metallic index.

Stock view:

Tata steel Ltd is presently trading at Rs 509, up by Rs 17.95 or 3.66% from its earlier closing of Rs 491.05 on the BSE.

The scrip opened at Rs 503 and has touched a excessive and low of Rs 510.9 and Rs 501.15 respectively. thus far 6369516(NSE+BSE) shares have been traded on the counter. the present market cap of the company is Rs 47691.fifty six crore.

The BSE staff 'A' inventory of face worth Rs 10 has touched a 52 week excessive of Rs 520.4 on 29-may just-2017 and a fifty two week low of Rs 297.4 on 24-Jun-2016. ultimate one week high and low of the scrip stood at Rs 507.95 and Rs 487.5 respectively.

The promoters holding within the firm stood at 31.35 % while institutions and Non-establishments held forty four.seventy four % and 23.91 % respectively.

The inventory is at present buying and selling above its a hundred DMA.

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