NEW DELHI: Despite the recent recovery in the broader market, shares of Tata Steel, Vedanta, Hindalco and Vedanta have all been ruling at their lowest levels since 2016, while those of Jindal Steel are trading near early 2017 levels. Shares of state-run Nalco trade at 2013 prices, SAIL is available at a price level last seen in 2003. Yet, there is no taker for these stocks. Analysts are cautious, as the coronavirus crisis becomes bigger around the world. China limps back to normalcy Wuhan, the epicentre of the virus outbreak, has lifted the 76-day lockdown, raising hopes that life in China, the largest consumer of metals, is coming back to normal. Reports indicated flattening of the virus infection in some other countries as well. This gave metal shares up to 7 per cent in Thursday’s trade. But analysts say given the magnitude of the pandemic, investors should take incoming news with a pinch of salt. They said metal demand, and hence prices, may remain weak for a prolonged period. For metal producers with manufacturing facilities face additional risks as Europe and the US have become new hotspots for the virus. Tata Steel has operations in the US and Europe while… Read full this story
- 'I think the Government would love me to go away'
- EGM step will not make hard questions go away
- "Red Flag" Gun Laws a Gift to Police But Won't Stop Massacres
- TT 2019: Superbike victory for Peter Hickman in red-flagged race
- ‘I would say I’m a ten, but not in a cocky way’
- 'I look back now and I wonder, 'how did I do that?''
- The simple 60 second tricks guaranteed to fix your back pain
- 'I'm going nowhere': The reluctant cannabis activist
- Women's World Cup 2019 kits: every home and away shirt ranked
- 'The Red Cross saved my life'
- Hamilton: youngsters ‘get away with a lot more’
- And doula makes four: A look at the growing birthing trend
As metal stocks try to look up, analysts raise red flag, say pain is not going away have 311 words, post on economictimes.indiatimes.com at April 13, 2020. This is cached page on Konitono News. If you want remove this page, please contact us.