Metal Stocks: Bounce in Nifty Metal Index, These 10 Metal Stocks Will Give Up To 70% Return This Year, Learn The Reasons

Investors are now attracted to metal stocks due to the spurt in economic activity and rising demand in infrastructure as well as real estate and automobile sectors. While the Nifty has risen by 8% this year, the Nifty Metal index has gained 17% painfully. According to data from brokerage firm Kotak Securities, steel demand grew by 6% in January 2021 and 7% in February on a year-on-year basis. In such a situation, the country’s famous brokerage firms have prepared 10 such metal stocks to investors, which can give 20% to 70% returns this year. These are the hot metal stocks…

Jindal Steel

Stocks of Jindal Steel have been rated by the brokerage firm Prabhudas Lilladher and CapitalVia Global Research. Prabhudas Lilladher has expressed the hope that its stocks will give 53% return in a year to investors and has given a target price of Rs 460 to 480. At the same time, CapitalVia Research has given a target price of Rs 400 for Jindal Steel stocks and has hoped that the company will give a 28% return to investors this year. Today, shares of Jindal Steel gained 2.92% to close at Rs 322.

Steel Authority of India

The target price of SAIL stocks has been given by brokerage firm Prabhudas Lilladher for between Rs 110 and Rs 120. Shares of the company closed at Rs 72.80, up 2.10% today. This means that the company can give up to 68% returns to its investors this year. The brokerage firm believes that the company has an upside potential and is backed by a 200-day moving average.

Tata Steel

Stocks of Tata Steel have also been recommended to be bought by brokerage firm Prabhudas Lilladher and set its target price between Rs 1000 and Rs 1050. Shares of the company closed at Rs 723.10, up 2.31% on the NSE today. That is, the company can give up to 49% returns to its investors this year. The brokerage firm says that the company has reached the level of Rs 750 from the Rs 250 level in April 2020 and will cross the Rs 1000 level in a year. At the same time, brokerage firm CapitalVia Global Research has given a target price of Rs 850 for its stock and expects that its stocks will give more than 20% return in the short term.

National Aluminum (Nalco)

Stocks of National Aluminum have been rated by brokerage firms Prabhudas Lilladher and CapitalVia Global Research. Prabhudas Lilladher has expressed the hope that its stocks will give 56% returns to investors in a year and has given a target price of 85 to 90 rupees. At the same time, CapitalVia Research has given a target price of Rs 87 for Jindal Steel stocks and has hoped that the company will give 50% return to investors this year. The brokerage firm said that its support level could be between 50 and 52 rupees. Today, the company’s shares closed at Rs 58.60, up 1.30% on the NSE.

NMDC

The target price of stocks of this company has been given by brokerage firm Prabhudas Lilladher for between 200 and 220 rupees. Shares of the company closed at Rs 132.70, up 0.87% today. That is, the company can give up to 67% returns to its investors this year. NMDC has underperformed compared to other metal stocks, but now shows upward potential.

Coal India

Stocks of Coal India have been given by-ratings by brokerage firm CapitalVia Global Research and expect the company to give more than 38% returns to its investors this year. The brokerage firm has given a target price of Rs 210 for the share of Coal India. Today, the company’s stocks on the NSE lost 0.23% to close at Rs 151.35.

Welspun Corp

The target price of stocks of this company has been fixed by brokerage firm CapitalVia Global Research at Rs 180 and has said that the company will give 35% return in a year to its investors. Shares of Welspun Corp gained 0.34% to close at Rs 133.90 on the NSE today.

SAIL

Steel Authority of India has been picked up by brokerage firm Anand Rathi. Aad its shares gained 2.10% to close at Rs 72.80. Although the brokerage firm has not fixed any target price for the company’s stocks, it has hoped that this year the company will give double digit returns to the investors. The company’s sales growth in the December quarter was 19.6% and its operating margin was 27% at Rs 529.4 crore as compared to only 7% ie Rs 118.6 crore in the same quarter last year.

Graphite India

Stocks of Graphite India have also been given Buy ratings by brokerage firm Anandrathi and have not fixed any target price for the same. But it is hoped that this year the company will give double digit returns to the investors. Being the country’s largest and the world’s third largest steel manufacturer, the company is expected to benefit tremendously from the increasing demand for steel.

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