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Informist, Friday, Jul. 18, 2025

MUMBAI – Shares of companies in the metal sector may remain under pressure in the near term as US trade tariffs weigh on sentiment. However, investors will also react to the June quarter earnings of the largest steel manufacturer in the country -- JSW Steel Ltd. The outcome of bilateral trade talks between India and the US will continue to be in focus.

JSW Steel's bottom line and top line for the June quarter exceeded analysts' expectations on the back of strong domestic sales volume growth and lower raw material costs. The steelmaker's consolidated net profit for the quarter more than doubled to INR 21.84 billion as other income jumped over 113% on year. The consolidated revenue of the company rose 0.5% on year to INR 431.47 billion, which was a little above the Street view of INR 429.48 billion.

The US has told the World Trade Organization that India has no 'legal basis' to hit out at US tariffs on automobiles, steel, and aluminium with retaliatory tariffs, The Times of India reported Friday. The US response follows India's statement that US safeguard measures on steel and aluminium would impact Indian exports worth $7.6 billion to the US, resulting in duty collections of $3.82 billion. Additionally, India has said that these measures would affect automobile product imports valued at $2.89 billion, leading to duty collections amounting to $723.75 million, the report said.

Metal companies are expected to report a mixed performance, with steel companies benefiting from nearly 4% sequential improvement in net smelter return, Prabhudas Lilladher Institutional Equities said in a strategy report. The volumes of these companies are expected to decline on year due to early monsoon and maintenance shutdowns, the report said.

Despite global uncertainties, the Nifty Metal closed in the green for this week. However, the index has not managed to reverse the losses this month and is down 0.8% from the start of July. Most of the constituents of the Nifty Metal closed higher, with NMDC and Steel Authority of India ending nearly 2% higher. The Nifty Metal closed at 9458.20 points, up 0.4%. The index is likely to face resistance at 9565.60 points and support at 9345.00 points. 

TOP HEADLINES

* Earnings Outlook: Lower volumes, weak base metal prices to hit Hind Zinc PAT
* Godawari Power gets environment ministry nod for steel plant in Chhattisgarh
* Hindustan Zinc gets letter of intent for potash, halite block in Rajasthan
* Earnings Outlook:Volume rise to aid JSW Steel sales YoY, realisation seen dn
* Viceroy Research claims Agarwal family holds undisclosed stakes in Vedanta
* Earnings Outlook: June quarter likely mixed bag for basic industries sector
* Tata Steel to hold groundbreaking event for Port Talbot furnace on Monday
* Hind Copper downplays US tariff threat, says products mostly sold in India

Following are the resistance and support levels for the stocks for next week as per calculations by Informist based on their prices on the National Stock Exchange:

End

Reported by Simran Rede

Edited by Deepshikha Bhardwaj

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