Nifty Metal top performer across sectoral indices

India Infoline News Service | Mumbai | January 11, 2017 10:02 IST

Nifty Metal is Wednesday's leading index across sectoral indices. Nifty Metal opened today at 2855.20, gaining 0.75%. It is currently trading up by 2.84%.

Nifty Metal is Wednesday's leading index across sectoral indices. Nifty Metal opened today at 2855.20, gaining 0.75%. It is currently trading up by 2.84%.
 
Following are the top stocks from Metal sector today:
 
JSW Steel has touched its 52-week high today at Rs 191.15, gaining 7.11%.
 
Gujarat based, large diametre pipes manufacturer, Welspun Corporation is also in focus today. Welspun has gained 0.6% at the time of opening. It is currently trading up by 1.85% at Rs 82.65.
 
India’s largest manufacturer of Auto-grade steel, Bhushan Steel Limited has touched high of Rs 45.65, gaining 7.28%. The company’s revenues have been growing at an average rate of 5% over the last five years.
 
Tata Steel has touched its new 52-week high today at Rs 449.90.
 
Steel Authority of India Limited (SAIL) has touched a high of Rs 55.45, gaining 4.92%. The stock is near its 52-week high of Rs 56.10. It is currently trading up by 3.88%. SAIL has witnessed spurt in volumes by 1.02 times. Its revenues has grown at an average of 10% over the last five quarters.
 
Stock View:
 
Steel Authority of India Ltd is currently trading at Rs 54.65, up by Rs 1.8 or 3.41% from its previous closing of Rs 52.85 on the BSE.
 
The scrip opened at Rs 53.1 and has touched a high and low of Rs 55.35 and Rs 53.1 respectively. So far 5197871(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 21829.83 crore.
 
The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 56.15 on 12-Dec-2016 and a 52 week low of Rs 33.5 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs 53.05 and Rs 50.4 respectively.
 
The promoters holding in the company stood at 75 % while Institutions and Non-Institutions held 20.42 % and 4.58 % respectively.
 
The stock is currently trading above its 50 DMA.

***Note: This is a NSE Chart

 

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