Adani Enterp. 2510.10↓-23.95(-0.95%)
Adani Ports 736.10↓-1.40(-0.19%)
Apollo Hospitals 4576.45↓-64.00(-1.38%)
Asian Paints 3143.05↑5.65(0.18%)
Axis Bank 938.00↑8.20(0.88%)
B P C L 360.90↓-0.80(-0.22%)
Bajaj Auto 4597.40↓-21.10(-0.46%)
Bajaj Finance 7010.55↑78.50(1.13%)
Bajaj Finserv 1465.65↑16.10(1.11%)
Bharti Airtel 818.90↓-2.35(-0.29%)
Britannia Inds. 4575.00↓-0.25(-0.01%)
Cipla 960.50↑4.25(0.44%)
Coal India 244.35↓-1.75(-0.71%)
Divi's Lab. 3462.55↓-15.30(-0.44%)
Dr Reddy's Labs 4522.30↓-33.95(-0.75%)
Eicher Motors 3679.20↓-32.25(-0.87%)
Grasim Inds 1725.15↑11.85(0.69%)
H D F C 2696.90↑6.35(0.24%)
HCL Technologies 1136.05↑9.85(0.87%)
HDFC Bank 1639.00↑3.50(0.21%)
HDFC Life Insur. 583.55↑4.50(0.78%)
Hero Motocorp 2780.00↑3.10(0.11%)
Hind. Unilever 2657.00↑6.70(0.25%)
Hindalco Inds. 413.20↓-6.70(-1.60%)
ICICI Bank 949.60↑1.45(0.15%)
IndusInd Bank 1291.90↑6.95(0.54%)
Infosys 1321.85↑7.45(0.57%)
ITC 450.40↑1.30(0.29%)
JSW Steel 704.70↑2.50(0.36%)
Kotak Mah. Bank 1977.35↑24.15(1.24%)
Larsen & Toubro 2210.05↓-14.50(-0.65%)
M & M 1328.75↓-1.40(-0.11%)
Maruti Suzuki 9380.90↑47.40(0.51%)
Nestle India 21575.00↓-154.45(-0.71%)
NTPC 176.70↑0.40(0.23%)
O N G C 158.85↓-0.15(-0.09%)
Power Grid Corpn 235.10↑0.60(0.26%)
Reliance Industr 2519.75↓-0.85(-0.03%)
SBI Life Insuran 1216.00↓-2.10(-0.17%)
St Bk of India 592.75↓-2.25(-0.38%)
Sun Pharma.Inds. 958.95↓-9.50(-0.98%)
Tata Consumer 790.95↓-3.30(-0.42%)
Tata Motors 518.65↓-2.80(-0.54%)
Tata Steel 107.10↓-1.35(-1.24%)
TCS 3315.55↓-4.80(-0.14%)
Tech Mahindra 1099.90↓-14.15(-1.27%)
Titan Company 2804.85↓-7.40(-0.26%)
UltraTech Cem. 7900.00↑59.45(0.76%)
UPL 689.15↓-0.85(-0.12%)
Wipro 402.55↑2.75(0.69%)

Valuations, demand uptick hopes favour Indian metal companies

Most metal players have underperformed the benchmarks over the past year

Devangshu Datta

Premium

Industrial metal

3 min read Last Updated : Feb 27 2023 | 10:25 PM IST

The reopening of China has led to an ongoing readjustment of the global metals and commodities markets. China has a massive production capacity surplus to its own domestic demand. At the same time, it also has high domestic demand.

China is also becoming carbon sensitive. The country’s data has not yet been released since China clubs January-February data together due to the New Year holiday period.

As a result, industrial metal prices have been volatile. International steel manufacturers who were suffering from low demand, have started to hike prices. Raw material costs have also soared. This could start to impact margins for Indian steel producers from the first quarter of the 2023-24 financial year (Q1FY24) although margins should not be affected much during Q4 FY23.