Skip to main content

Steel stocks slide

Five steel stocks declined by 0.18% to 2.40% on BSE after the Government termed the recent price hike by steel companies as unreasonable and said that it would review the move by 15 February 2008.

Tata Steel fell 2.40% to Rs 783.50, JSW Steel declined 2.02% to Rs 1,127.80, Steel Authority of India (Sail) slipped 1.69% to Rs 226.80, Bhushan Steel skid 0.71% to Rs 1112, Jindal Stainless shed 0.18% to Rs 169. However, Ispat Industries was up 0.68% to Rs 44.50.

As at 12.06 IST, the BSE Sensex was down 94.78 points, or 0.51%, to 18,565.54 as Asian stocks slipped after a wave of broker downgrades on Wall Street on Monday, 4 February 2008, sparked fresh worries about the health of the US financial sector.

The BSE Metal index was down 0.65% to 16,331.20. The BSE Metal index had underperformed the market in the one month to 4 February 2008, falling 19.01% as against the Sensex's 9.80% decline. It had also underperformed the market in the past three months, slipping 4.46% against the Sensex's 3.82% slide.

The price monitoring committee in the Steel Ministry has already been instructed to look into the recent hike by the domestic steel manufacturers and the report is likely to be ready in the next five days, the Union Minister for Steel, Chemicals and Fertilisers, Ram Vilas Paswan, told media on the sidelines of an event organised by Steel Authority of India (Sail) on Monday, 4 February 2008.

Earlier this month, major domestic steel producers including Sail, Rashtriya Ispat Nigam, Tata Steel, Essar Steel, and Ispat industries had increased prices by Rs 1000 to Rs 2,500 per tonne across various products.

In January 2008, while the public sector companies had increased prices by Rs 500 to Rs 1,500 per tonne, private companies had hiked prices by Rs 500 to Rs 1,000 per tonne

Popular posts from this blog

Bio-fuel has top investors powered up

23RD ,JUNE India's fortune-hunters believe their new-found love for biofuel will pay off. India's well-known investors who are known for their Midas touch have spotted an opportunity in bio-fuel, betting big on ethanol, bio-mass and even bio-fuel equipment makers in India and other parts of the globe. Billionaires Rakesh Jhunjhunwala, C Sivasankaran, Vinod Khosla, founder of Sun Microsystems, and Nemish Shah, the media-shy joint partner of Enam Financial Services, are investing in bio-fuel makers quietly, expecting that bio-fuel will have a big play in the coming years as the world looks for a viable alternative to the fast depleting oil reserves. Jhunjhunwala, who is known for his ability to spot a multi-bagger at a very early stage, recently invested in Hyderabad-based bio-fuel firm Nandan Biometrics.He is also a 10 per cent stakeholder in Praj Industries, which is a bio-fuel technology provider…

up to 8,500% return in 5 years! Investors made a killing in these 30 smallcap stocks

U By Rahul Oberoi, | Updated: Dec 01, 2017, 04.06 PM IST Post a Comment
Efficiency pays in the long run. Among the top smallcap plays on Dalal Street, 30 companies with stable return on equity (RoE) and return on capital employed (RoCE) have surged up to 8,500 per cent over the past five years.

All these companies had a debt-to-equity ratio of less than 1 and have been maintaining RoE and RoCE of over 20 per cent since 2012-13.

Avanti Feeds emerged the chart topper, with an 8,527 per cent gain to Rs 2,596.60 as of November 28 from Rs 30.10 ..

ovember 28 from Rs 30.10 on November 27, 2012. The company’s return on equity for FY17, FY16, FY15, FY14 and FY13 stood at 42.65 per cent, 46.21 per cent, 52.41 per cent, 45.79 per cent and 27.60 per cent, respectively. Avanti also managed to achieve a return on capital employed of over 50 per cent in last four years. Its RoCE stood at 28.59 per cent inRoE measures net income earned for every rupee of shareholder funds, while…

5 dark-horse picks

Kwadrat/ Kwadrat/
If you are a conservative investor, using the mutual fund route is the best way to invest in stocks. But if you are game for some excitement, you might want to dabble directly in stocks, especially small-cap stocks. Stocks that are smaller in size, in terms of market capitalisation, carry higher risk. The reasons are — one, lower traded volume increases price volatility, two, information is usually scarce on these companies, three, business risk is higher since many of these companies are dependent on a single product and four, governance risk is also higher in these stocks. That said, small-cap stocks have the capacity to deliver far greater returns when compared to large-cap stocks. Sample this: there were 16 stocks with market cap more than ₹50,000 crore in January 2009. These stocks delivered an average return of 138 per cent in the last eight years but 4 out of every 10 stocks in this group delivered negative returns. On the ot…