SP Tulsian of sptulsian.com feels the profit booking is likely to be seen in JSW Steel, JSPL and Tata Steel.
JINDAL-STEEL-FALLS-AS-Q4-PROFIT-LAGS-KOTAK-S:Jindal Steel falls as Q4 profit lags; Kotak says clarification required
In an interview to CNBC-TV18, technical analyst, Sudarshan Sukhani, s2analytics.com shared his reading and outlook on the market and stocks across various sectors.
Jindal Steel and Power (JSPL) has hiked price in the range of Rs 500-1500 per tonne to offset higher input cost. The latest hike is because demand is at its peak during this time of the year buoyed by construction activities across states.
Kotak Institutional Equities upgraded Jindal Steel and Power to "add" from "reduce", with a target price of Rs 420, noting a steep correction in share prices in the past three months.
Jindal Steel and Power Ltd today said that it is close to tying up a technology partner for setting up Rs 55,000 crore-Coal-to-Liquid (CTL) plant at Angul in Odisha.
Jindal Steel and Power Ltd will increase stake in Australia's Apollo Minerals to 11.70 percent by acquiring addition 10 million shares of the firm for about AUD 0.4 million (about Rs 2.20 crore).
Jindal Steel and Power (JSPL) may slip below Rs 300, says Sudarshan Sukhani of s2analytics.com.
The Steel Ministry has shot down domestic manufacturers' plea for hiking import duty on the alloy, saying there is no need to initiate such an action right now as imports have not reached an alarming level.
In an interview to CNBC-TV18, VK Sharma of HDFC Securities spoke about current market trend and his views on various stocks. He says, "Market will take a support at around 5,880 and it will be very difficult to break this level. Once it breaks on the downside, one will have to take a quite clear and a bearish call on the market".
VK Sharma of HDFC Securities recommended buying Tata Steel 380 put with a stop loss at around Rs 4.
Domestic steel manufacturers want government to hike duty on its imports to rein in dumping of the alloy into the country.
Jindal Steel and Power made an all-cash AUD 221.61 million (about Rs 1,200 crore) offer to buy out Gujarat NRE Coking Coal Ltd, the Australian subsidiary of Kolkata-based Gujarat NRE Coke.
Brokerage house Macquarie of the view that the market will now pause for a breather, and resume its uptrend only after consolidating its recent gains.
A Delhi court is likely to pronounce on January 3 its order on issue of taking cognisance of Zee News Editor Sudhir Chaudhary's criminal defamation complaint against Congress MP Naveen Jindal and 16 officials of his firm Jindal Steel and Power Ltd (JSPL).
Jitender Kumar of SBICap Securities is bullish on Jindal Steel and Power, Bank of Baroda and Punjab National Bank.
Jindal Steel and Power (JSPL) is a buy for the short-term momentum trader because steel stocks have done something very nice, they have made bullish patterns and broken out of it, says Sudarshan Sukhani of s2analytics.com.
One can buy Pipavav Defence on dip, says Sudarshan Sukhani of s2analytics.com.
Jindal Steel and Power (JSPL) said it expects to start supplying coal from its Mozambique mine early next year.
Zee Group Chairman Subhash Chandra and managing director Puneet Goenka will be questioned by the Crime Branch of Delhi Police on Saturday in connection to the alleged 100 crore rupee extortion case filed by the Jindals.
Jindal Steel and Power will invest around USD 500 million in Cameroon to build a power plant, a railway line and an iron ore processing plant, Cameroon's state radio reported, citing the country's mines ministry.
After scrapping its Bolivia plans, private steel firm Jindal Steel and Power is scouting for coal properties in other countries including South Africa and Mozambique.
Rajesh Agarwal of Eastern Financiers is of the view that one can buy Jindal Steel and Power with a target of Rs 425.
Jindal Steel and Power, which today reported a marginal growth of 2.5 per cent in its consolidated net profit to Rs 897.28 crore in July-September quarter, plans to add 1.6 million tonnes (MT) new capacity by March.
Jindal Steel and Power's (JSPL) consolidated net profit increased 2.5 percent - in-line with forecast - to Rs 897 crore in the second quarter of current financial year from Rs Rs 875 crore in a year ago period.