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Basic Materials
Small Cap
Market Cap £262.1m
Enterprise Value £1.87bn
Revenue £1.69bn
Position in Universe 441st / 3002

BUZZ-Indian metals shares rise on China policy stimulus, trade deal hopes

Thu 2nd January, 2020 6:35am
** Shares of Indian metal companies rise, with the Nifty
sub-index for metals  .NIFTYMET  gaining as much as over 2%,
lifted by China's move to ease monetary policy and hopes of a
Sino-U.S. trade deal
    ** The People's Bank of China on Wednesday reduced the
amount of cash that all banks must hold as reserves, releasing
around 800 billion yuan ($114.84 billion) in funds to shore up
the slowing economy  urn:newsml:reuters.com:*:nL4N29607P
    ** U.S. President Donald Trump said on Tuesday he would sign
the Phase 1 trade deal with China on Jan. 15  urn:newsml:reuters.com:*:nL1N2950CQ
    ** Shares of Indian steel producers rise 2.7%-9% after
companies reported a jump in sales for December and third qtr
    ** Steel Authority Of India Ltd  SAIL.NS  on Wednesday
reported sales of 1.68 million tonnes in December 2019, a 47%
jump year on year  urn:newsml:reuters.com:*:nFWN29506A
    ** Jindal Steel and Power Ltd  JNSP.NS  on Thursday reported
a 30% rise in sales at 1.66 million tonnes in Q3 2019 from a
year ago  urn:newsml:reuters.com:*:nFWN295095
    ** Shares of SAIL rise as much as 9.44% to 46.95 rupees,
their highest since July 18, 2019, while those of Jindal Steel
rise as much as 4.12% to 173.25 rupees, their highest since May
7, 2019
    ** Shares of Hindustan Copper  HCPR.NS  rise as much as
19.8% to 48.45, their highest since April 25, 2019

 (Reporting by Nallur Sethuraman in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (+91 8067496031); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))
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