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Last Updated : Oct 11, 2019 10:04 AM IST | Source: Moneycontrol.com

Nifty Metal outperforms led by Vedanta & Tata Steel, stocks jump 3-4%

Nifty Metal gained over 2 percent led by Vedanta and Jindal Steel & Power which jumped over 4 percent each followed by Tata Steel, JSW Steel, Coal India and Hindustan Zinc.

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Indian markets have opened on a positive note with Sensex up 300 points while the Nifty is trading above the 11,300 mark. About 779 shares have advanced, 340 shares declined, and 50 shares are unchanged.

Metal stocks are shining in this morning session with the index outperforming all other sectors. Nifty Metal gained over 2 percent led by Vedanta and Jindal Steel & Power which jumped over 4 percent each followed by Tata Steel, JSW Steel, Coal India and Hindustan Zinc.

Tata Steel crude steel production has risen 4.65 percent at 4.5 MT in Q2 as against 4.3 million tonne (MT) in the corresponding quarter last fiscal.

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The crude steel production also includes numbers from Tata Steel BSL and Tata Steel Long Products, without eliminating inter-company transactions, the company said in a statement.

Its overseas arm Tata Steel Europe reported liquid steel production of 2.46 million tonne during quarter as against 2.42 million tonne in Q2 FY19.

At 09:40 hrs, Vedanta was quoting at Rs 148.00, up Rs 6.65, or 4.70 percent. It has touched an intraday high of Rs 148.20. Tata Steel was quoting at Rs 341.10, up Rs 11.40, or 3.46 percent. It has touched an intraday high of Rs 342.50

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First Published on Oct 11, 2019 10:04 am
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