Metal Stocks Outlook for the week - 17 to 21.04.201 7
Metal Stocks Outlook for the week - 17 to 21.04.201 7
( www.rupeedesk.in )
Stocks of most metal and mining companies are likely to extend this week's correction to next week as well, as safe-haven assets gain favour over metals due to geopolitical tensions. Stocks of most companies fell 1-9% this week, with shares of Vedanta taking the sharpest knock due to weak base metal prices, and the stock going ex-dividend. Fundamental think we believe that one must utilise the correction in these stocks as a buying opportunity, especially given that valuations are reasonable. Companies are likely to show very good earnings growth (in Apr-Jun), so in that context, stocks are not very expensive. Particularly positive on stocks of Tata Steel, Vedanta and JSW Steel.
Source : Cogencis Information Services Ltd.
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Metal Stocks Outlook for the week - 17 to 21.04.201 7
( www.rupeedesk.in )
Stocks of most metal and mining companies are likely to extend this week's correction to next week as well, as safe-haven assets gain favour over metals due to geopolitical tensions. Stocks of most companies fell 1-9% this week, with shares of Vedanta taking the sharpest knock due to weak base metal prices, and the stock going ex-dividend. Fundamental think we believe that one must utilise the correction in these stocks as a buying opportunity, especially given that valuations are reasonable. Companies are likely to show very good earnings growth (in Apr-Jun), so in that context, stocks are not very expensive. Particularly positive on stocks of Tata Steel, Vedanta and JSW Steel.
Source : Cogencis Information Services Ltd.