Indian metal stocks suffered a drop of nearly 15% in CY23, making it the second-worst performer after the Nifty Media. Despite many analysts and brokerage firms highlighting that the drop provided an excellent buying opportunity, there was enough negative sentiment to overshadow the positive news. Headwinds such as China’s slowing economy, the imposition of heavy export duty, and rising raw material prices have caused the decline. Due to this challenging environment, earnings for metal stocks will be a crucial factor in deciding the industry’s fate.
Dipan Mehta urges caution and focus on fundamentals as uncertainty persists
So, next 80 days we should focus only on the micros and look at companies on a bottom-up basis and then see if there are
April 16, 2025