Private banking heavyweight Kotak Mahindra Bank and cement major UltraTech Cement would post their Q3 earnings on Saturday.
JSW Steel and Tata Steel are expected to outperform. The brokerage attributed this resilience to a superior sales mix, cost control measures, operational efficiency, and a steady growth in volumes.
ICICI Securities has a buy call on Tata Steel and Jindal Steel. It has a hold call on JSW Steel and SAIL.
Nomura expects JSW Steel standalone and Tata Steel standalone to report around Rs 1,900 to Rs 2,000 per tonne sequential decline in realisations.
India’s steel majors have been found guilty of breaching anti-trust laws following a CCI probe into Tata Steel, JSW Steel and SAIL, Reuters reported. The regulator found companies colluded in setting steel prices, with hefty fines likely on firms and senior officials. This comes at a time when metal stocks have seen a sharp run-up amid strong global prices and supply-side tightness. So, what should be your investment strategy now?
Stocks including Reliance Industries, Titan, ONGC, YES Bank, IEX, Meesho, Lodha Developers, IRB Infra, Steel Companies and more will be in the spotlight on Wednesday, January 07.
India’s leading steelmakers are under intense regulatory scrutiny after the CCI found evidence of price fixing and supply curbs over eight years. The probe puts dozens of top executives in the spotlight.
Gaurav Sharma, Associate VP & Head of Research at Globe Capital, discussed the outlook for steel stocks following the government's imposition of a 12% safeguard duty on steel imports. He noted that major players like JSW Steel, Tata Steel, and Jindal Steel have performed exceptionally well. However, Sharma emphasized that selecting stocks has become challenging due to their strong rally. He recommended focusing on lesser-known names like GMDC and NMDC, which still offer upside potential. Sharma advised caution for fresh investments, suggesting that investors with gains should consider booking profits, as metal stocks may enter a consolidation phase in 2026.
The Indian government has imposed a safeguard duty on imports of non-alloy and alloy steel flat products for three years, starting April 21, 2025, which has led to a rise in steel stocks. JSW Steel, SAIL, Tata Steel, and Jindal Steel are benefiting from the announcement. The duty will be set at 12% for the first year, decreasing gradually to 11% by 2028. The duty excludes imports from certain developing countries but includes China, Vietnam, and Nepal. Sharad Avasthi, Head of Research (PCG) at SMIFS, highlighted Jindal Steel as a top pick, citing strong growth expectations and a valuation-friendly outlook, with targets of ₹1300–1400.
Antique maintained 'Buy' ratings on Tata Steel with a target price of Rs 199 and Jindal Steel with a target price of Rs 1,171, while retaining 'Hold' on SAIL with a target of Rs 129 and JSW Steel with a target of Rs 942.
Tata Steel Ltd (3%), JSW Steel Ltd (4.5%), SAIL Ltd (2.30%), Jindal Steel (2.02%) and Jindal Stainless (3.46%) were among the top gainers on the BSE metal index in early deals today.
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