Global headwinds have impacted the metals pack. Cost push in the ferrous space has led to higher steel prices, while healthy consumption in the construc-tion, infrastructure and automotive segments will likely support higher volumes
The company’s quarterly net profit came in at Rs 1,686.94 crore in June 2023 down 14.4 percent. Consolidated revenue from operations dropped 3.5 percent on year to Rs 12,588.34 crore during the quarter ended June from Rs 13,045.41 crore in Q1FY23
"Our stop for the Nifty should be tightened because it has been a very decent rally and the stop should now be at 6,030. Just go with the flow," he says.