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What is the story about?
Shares of metal companies, Hindustan Zinc Ltd., NALCO Ltd., and Hindalco Industries Ltd
. are in focus on Monday, January 19.
Brokerage firm HSBC has upgraded Hindustan Zinc to a 'Buy' from 'Hold' and raised its price target to ₹750 from ₹520 earlier.
The brokerage also reiterated its 'Buy' recommendation on Hindalco, increasing the target price to ₹1,240 from ₹1,060, and maintained a 'Buy' rating on NALCO while lifting the target to ₹420 from ₹373.
HSBC's Global Metals team said a combination of strong demand from sectors such as electric vehicles and energy storage systems, a prolonged lack of investment leading to slower supply growth, and ongoing supply constraints and disruptions could trigger a "super cycle" in select metals.
It expects metals including copper, aluminium, battery raw materials and platinum group metals to be the key beneficiaries, while bulk commodities are likely to continue to underperformance.
As many as 10 stocks on the Nifty Metal index are trading with losses on Monday.
Hindustan Zinc and Hindalco Industries are among the biggest gainers on the Nifty Metal index, both of which are trading with gains of up to 2%.
Brokerage firm HSBC has upgraded Hindustan Zinc to a 'Buy' from 'Hold' and raised its price target to ₹750 from ₹520 earlier.
The brokerage also reiterated its 'Buy' recommendation on Hindalco, increasing the target price to ₹1,240 from ₹1,060, and maintained a 'Buy' rating on NALCO while lifting the target to ₹420 from ₹373.
HSBC's Global Metals team said a combination of strong demand from sectors such as electric vehicles and energy storage systems, a prolonged lack of investment leading to slower supply growth, and ongoing supply constraints and disruptions could trigger a "super cycle" in select metals.
It expects metals including copper, aluminium, battery raw materials and platinum group metals to be the key beneficiaries, while bulk commodities are likely to continue to underperformance.
As many as 10 stocks on the Nifty Metal index are trading with losses on Monday.
Hindustan Zinc and Hindalco Industries are among the biggest gainers on the Nifty Metal index, both of which are trading with gains of up to 2%.
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