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.
Aggressive volume push at the expense of pricing resulted in an about 6% sequential decline in cement prices to Rs 370- Rs 375 on average per 50 kg bag in the fourth quarter.
​Shares of metal companies surged Monday, leading gains in a session where benchmark indices hit lifetime highs. The Nifty Metal index also surged to a record, ending with near 4% gains on positive manufacturing data from China amid brightening prospects of a June start to the US rate easing cycle.
The muted trend in cement prices has become a niggling worry. A meaningful improvement in demand and pricing is possible only in the second half of FY25. Why are stock prices surging then?
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