Medium impact
Metal shares rise 3.2%; Coal India gains 4.9% after record October supplies
Metal shares were among Monday's strongest. Tata Steel rose 5.83% and JSW Steel 5.13%, and the Nifty Metal index gained 3.21%. Coal India rose 4.88% after reporting record October supplies of 70.3 million tonnes, about 19% more than a year earlier. Its subsidiary South Eastern Coalfields (SECL) filed draft papers with SEBI on 2 November for a share sale in which Coal India would sell existing shares. Coal India's ₹10.25 interim dividend has a 4 November record date.
The chain of consequences
- 1Steel makers lead buying
- 2Nifty Metal rises 3.21%
- 3Coal India reports record October supplies of 70.3 million tonnes
- 4Coal India shares rise 4.88%
Tends to gain
Steel and mining companies
Tends to lose
Customers who buy steel and coal could face firmer prices
If it reverses
A slowdown in China or weaker global metal prices could reverse the move.
Companies in this story
Other stories today
- Brent falls 7.6% to about $104.77 as Iran offers to reopen Hormuz on conditions
- Reliance jumps 11.6% after a 41% profit rise, lifting the Nifty 1.68% to 23,440.80
- US votes in midterm elections; Trump says no new strikes on Iran before the vote
- Record October vehicle sales lift auto shares; Maruti up 2.4%
- Foreign investors buy about ₹3,115 crore; rupee slips 10 paise to 94.86
- NTPC and Power Grid rise after results; NHPC reports on 4 November
- IT and pharma shares lag the rally; Infosys falls 2%
- US factory survey strengthens to 55.5 while the 10-year yield eases to 4.89%
- Defence shares recover; BDL bounces 2.3% from its 52-week low
- State-run banks rise 1.4% on Bank of Baroda results; Bank of Maharashtra slips
- L&T rises 1.8% as infrastructure shares gain