Hindustan Zinc surged 20%, followed by Vedanta which gained 7.04%. Jindal Steel and Power and Hindalco moved up over 4%, while Tata Steel, JSW Steel, and Hindustan Copper rose over 3% each.
RailTel shares are down 24% from record high this year, time to buy? businesstoday.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businesstoday.in Daily Mail and Mail on Sunday newspapers.
But some investors might be tempted to consider selling this time as the general elections are feared to induce sharp swings in equities. Investors are also growing nervous about the US Federal Reserve delaying interest rate cuts as expected by the financial markets.
Prabhudas Liladher has upgraded VIP Industries to Buy from Hold rating for a target of Rs 603, which has been revised up from earlier Rs 589. Its upgrade is driven by a 30% correction over the last six months and the ensuing valuation comfort. According to Prabhudas, VIP traded at a 17% discount to its LPA history of the past 10 years.