Steel players such as Tata Steel Ltd, JSW Steel Ltd, SAIL and Jindal Stainless Ltd are seen reporting 35-66 per cent YoY rise in net profit for the March quarter.
Axis expects Tata Steel and SAIL to experience a relatively limited impact on their upstream steel production, though certain downstream processes could be hit.
Meanwhile, the brokerage has issued a 'Sell' call on SAIL and a 'Reduce' rating for NMDC.
MOFSL, which met the Hindalco management, said the company expects domestic demand across Asia to remain robust and outpace the modest growth expectation of 2-4 per cent CAGR globally.
Antique Stock Broking has maintained 'Buy' on Nalco with a target of Rs 420. It suggested 'Hold' on Hindalco Industries (target price: Rs 942), Vedanta (target price: Rs 729), and Hindustan Zinc (target price: Rs 621).
However, the copper business faced some pressure. EBITDA for this segment slipped 23% to Rs 595 crore, impacted by lower treatment and refining charges (TC/RC), the company highlighted.
Hindalco shares fell 2.3 per cent to hit a low of Rs 943.45 apiece on BSE. The aluminium and copper major, and a subsidiary of the Aditya Birla Group, is scheduled to report its December quarter results later in the day.
Axis Securities has pegged a target price of Rs 2,100 for APL Apollo Tubes, riding on the company’s record-breaking quarterly performance.
India offers limited direct exposure to the global critical minerals theme. Apart from efforts by Hindustan Copper, NALCO & GMDC, the brokerage sees non-ferrous as the most effective proxies for this structural cycle.
SMC has a "Buy" rating on SBI, setting a target price of Rs 1036, which suggests a potential upside of 18 per cent from its current market price of Rs 880.75.
JM Financial maintained its Buy rating Tata Power and JSW Energy both companies, with a target price of Rs 726 for JSW Energy and Rs 436 for Tata Power.




