Tata Steel BSL logo

TATASTLBSL - Tata Steel BSL News Story

₹24.05 0.6  2.3%

Last Trade - 11:16am

Sector
Basic Materials
Size
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
2019
    ** 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))
© Stockopedia 2020, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.