More Stories

Informist, Friday, Jul 11, 2025

MUMBAI - Shares of companies in the metals sector are likely to remain under pressure in the near term due to persisting worries about US tariffs. With the outcome of bilateral trade talks between India and the US getting delayed further, there are some worries about likely unfavourable decisions. Market participants were expecting the two countries to strike a deal with respect to tariffs this week. While the tariff imposition could significantly hurt India's exports, experts believe that the country will be among the least affected nations. 

On Thursday, a commerce ministry official had told Informist that a delegation of Indian government officials will likely visit the US soon for negotiations on the proposed trade deal. According to data from the commerce ministry, India had exported goods worth $86.51 billion to the US in 2024-25 (Apr-Mar) and had a trade surplus of $40.82 billion during the period. 

This week, India had revised its proposal to impose retaliatory duties on steel and aluminium against the US under the norms of the World Trade Organization. This was following the increase in steel tariffs by the US to 50% on Jun. 3 from the 25% announced on Mar. 12. "Without prejudice to its earlier notification to the Council for Trade in Goods and the Committee on Safeguards dated May 12, India reserves its right to adjust the products and tariff rates," the country said in notification to the trade organisation. 

Investors' focus will also turn to the June quarter earnings season that kickstarted this week. Broking firms said the financial results will be a mixed bag. "We expect companies within the sector to show contrasting trends this quarter with ferrous companies leading the pack, followed by a select few names in the steel pipes space that are likely to outperform non-ferrous names under coverage," Systematix Institutional Research said in its research report. 

The cumulative net profit of nine metal and mining companies in the Nifty 200 index is expected to grow 17% on year to INR 172.20 billion in the June quarter and revenue is seen rising merely 3% to INR 2.51 trillion, according to Informist's analysis. Sequentially, this means a 9% fall in the bottom line and a 7% decline in the top line. 

TOP HEADLINES
* HC refuses to stop Vedanta, arm's cost recovery in oil field row with govt
* Tata Steel buys shares in wholly-owned foreign subsidiary for $125 million
* Copper to edge lower in short term on demand woes, ample supply outside US
* Vedanta says Viceroy report's allegations baseless, selective misinformation
* Tata Steel Apr-Jun India delivery volume down 4% on year, 15% on quarter
* JSW Steel's June quarter crude steel output rises 14% on year to 7.3 mln tn
* Shyam Metalics Jun stainless steel sales fall 19% YoY, on month to 5,665 tn
* Tata Steel gets INR-19.03-bln demand from Odisha govt's mines department

Following are the resistance and support levels for the sector's key stocks for next week, as per calculations based on their prices on the National Stock Exchange:

End

Reported by Anjana Therese Antony
Edited by Deepshikha Bhardwaj

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.

Informist Media Tel +91 (22) 6985-4000
Send comments to feedback@informistmedia.com

© Informist Media Pvt. Ltd. 2024. All rights reserved.