Nifty Metal Index declines 1%; Jindal Steel among top losers
The Nifty Metal index was trading 0.90% down at 3,658.55.
The Nifty Metal Index was trading lower in the afternoon trade. The Nifty Metal index was trading 0.90% down at 3,658.55. All the stocks are trading in the red expect Welspun Corp, Coal India and Hindalco. The worst performer in the Metal Index was Jindal Steel, SAIL and NALCO.
Jindal Steel stock dropped 6% after the company posted its March quarterly figures. Its adjusted net profit stood at Rs5.5cr (expectation of Rs3cr).
The stock is currently trading at Rs246.30 down by Rs15.3 or 5.85% from its previous closing of Rs261.60 on the BSE.
National Aluminium Company Ltd is currently trading at Rs76.95 down by Rs2.15 or 2.72% from its previous closing of Rs79.10 on the BSE.
NMDC Ltd is currently trading at Rs117.50 down by Rs2.05 or 1.71% from its previous closing of Rs119.55 on the BSE.
Steel Authority of India Ltd is currently trading at Rs73 down by Rs2.55 or 3.38% from its previous closing of Rs75.55 on the BSE.