April 10, 2024
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(20 second reading) Jefferies is bullish on Indian metal companies amid the recent resurgence in the global manufacturing activity, including in the US and China, the world’s two biggest economies. In a recent note, the brokerage firm said it had constructive views on the sector, particularly copper and aluminium.
Jefferies upheld “buy” ratings on Tata Steel and Hindalco Industries stocks but raised target prices. Tata Steel’s target price has been increased to Rs 200 from Rs 165.
The brokerage has retained “hold” call on JSW Steel but has raised the target price to Rs 900 from Rs 800.
