NIFTY METAL ABOUT TO GIVE BREAKOUT. TOP PICKS TO RIDE THE RALLY.
NIFTY METAL IS ABOUT TO GIVE A STRONG TRIANGLE BREAKOUT AFTER CONSOLIDATION.
Top 3 picks are:
1) Tata Steel: Tata Steel shares have rallied 240% in the last one year on the back of rising steel prices. Tata Steel deleveraged its balance sheet. The company repaid Rs300 billion of its net debt in the last financial year. In its latest quarterly results, the company reported better than expected numbers on the back of improved realisations in the domestic market. The rally is going to resume in coming days.
2) SAIL: Shares of SAIL have been up almost 300% in the last one year. As the largest producer of steel in the country, the company was the beneficiary of soaring steel prices. With steel prices at a record high, the company is poised to post its best-ever EBITDA.
3) Hindustan Copper: Riding on the back of buoyant copper prices, Hindustan Copper (HCL) shares have jumped 330% in the last one year. HCL is the only vertically integrated copper producer in India engaged in a wide spectrum of activities ranging from mining, beneficiation, smelting, and refining. Goldman Sachs have both said copper prices could hit $15,000 a tonne in the coming years.
Top 3 picks are:
1) Tata Steel: Tata Steel shares have rallied 240% in the last one year on the back of rising steel prices. Tata Steel deleveraged its balance sheet. The company repaid Rs300 billion of its net debt in the last financial year. In its latest quarterly results, the company reported better than expected numbers on the back of improved realisations in the domestic market. The rally is going to resume in coming days.
2) SAIL: Shares of SAIL have been up almost 300% in the last one year. As the largest producer of steel in the country, the company was the beneficiary of soaring steel prices. With steel prices at a record high, the company is poised to post its best-ever EBITDA.
3) Hindustan Copper: Riding on the back of buoyant copper prices, Hindustan Copper (HCL) shares have jumped 330% in the last one year. HCL is the only vertically integrated copper producer in India engaged in a wide spectrum of activities ranging from mining, beneficiation, smelting, and refining. Goldman Sachs have both said copper prices could hit $15,000 a tonne in the coming years.
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