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Metal sector has been witnessing a mixed news flow, the much anticipated recovery in China is not panning out but there is no immediate pressure on prices. In the case of companies, some of them have utilized the amount they made in the recent boom to reduce the debt. Some of the stocks have been outperforming by not declining in a corrective phase of markets. Stock Reports Plus, powered by Refinitiv, is a comprehensive research report that evaluates five key components of 4,000+ listed stocks - earnings, fundamentals, relative valuation, risk and price momentum to generate standardized scores. ....
Notwithstanding strong buying trends in metal stocks seen on Thursday, a wait-and-watch policy in metals is recommended by analyst Pankaj Pandey of Head Research, ICICIdirect.com even as he suggests investors to remain positive on this sector. ....
“Tata Motors, Maruti, TVS and Hero MotoCorp are all hitting new highs. But rather than Hero, I will go with Bajaj Auto. And not Tata Motors, I would put my money on Ashok Leyland. They have garnered more market share. Tata Motors is the institutional favourite but I would put my money on Ashok Leyland.” ....
“The next five-year trend if you ask me is metals are going nowhere because China still accounts for 50-60% consumption of most large industrial metals and it is going to a deep stress slowdown, especially on the fixed capital side, where many of these commodities will suffer. A 10%-20% move in metals is the best we can hope for.” ....
“ JSPN is our top pick in the ferrous space followed by Tata Steel and in non-ferrous our top pick is Hindalco. For the first time in my 20 years career in the metal space, I am seeing that companies are adding capacities but without any additional debt. The debt will remain unchanged while EBITDA will go up.” ....