Shares of the company traded 4.33% higher at Rs 418.10 in the early trade on August 11, while the BSE Sensex was up 112 points, or 0.21%, at 54,666
There may be some sort of profit booking is due in the metal sector. However, looking at the global metal price this momentum is likely to continue
Nifty metal slipped the most, losing over 2%, followed by nifty financials. Financials continued to be major laggards as all indices lost close to 2%.
Antique Stock Broking said: "Our analysis suggests that macro green shoots are visible in globally linked sectors like metals and IT services."
The rally indicates that an investment of Rs 25,000 in March last year would have now fetched Rs 1,36,984
Global brokerage firm JP Morgan revised the target price upward for Tata Steel, citing higher earnings for steel companies.
What we need is a strong close in Nifty above 14950-15000 for the rally to continue. A break above 15000 should propel Nifty higher to 15300 and above
Metal stocks were trading in the negative zone, with the S&P BSE Metal index falling 415.68 points or 2.54% at 15922.32 at 13:49 IST. Among the c
Metal stocks were trading in green, with the S&P BSE Metal index increasing 287.37 points or 1.84% at 15930.71 at 09:49 IST.
The rally indicates that an investment of Rs 10,000 in the stock last year would have now become over Rs 45,000