A robust economic recovery outlook has unleashed a manufacturing boom so far this year, making the backdrop favorable for basic materials stocks. Prices of basic materials have been on the rise, backed by strong demand from industrial activities. Amid this environment, we think investors should bet on companies in the basic materials space that possess strong enough pricing power to combat any downturn caused by rising inflation. We believe under-the-radar basic materials stocks Tredegar Corp (TG), CRH Plc (CRH), LyondellBasell Industries (LYB), and Vedanta (VEDL) possess that characteristic and are worth adding to one’s portfolio now. Let’s take a closer look.
Q4FY21 Company Update - Vedanta - ICICI Direct
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Vedanta - Aluminium, Zinc India continue to drive earnings - ICICI Securities
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Key benchmark indices are trading lower in early trade amid initial volatility as trading resumed after a local holiday. At 9:25 IST, the barometer index, the S&P BSE Sensex, was down 148.82 points or 0.31% at 48,541.98. The Nifty 50 index was down 29.25 points or 0.2% at 14,667.25.
The S&P BSE Mid-Cap index was down 0.31%. The S&P BSE Small-Cap index was down 0.26%.
The market breadth, indicating the overall health of the market, is positive. On the BSE, 1284 shares rose and 934 shares fell. A total of 126 shares were unchanged.
On the macro front, India s retail inflation as measured by the Consumer Price Index (CPI) slowed to 4.29 percent in the month of April from 5.52 percent in March, mainly due to easing food prices, government data showed on Wednesday.