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Informist, Friday, Aug. 8, 2025

MUMBAI – Shares of metal companies are likely to move in a range with a negative bias amid caution over earnings growth in the coming quarters due to steep tariffs by the US and a rise in coking coal prices. There is a risk that investors sell stocks of these companies in the near term as global demand for metals may weaken due to tariffs by the US.

Further, these companies are likely to see muted earnings growth in the June quarter as monsoon has hit construction activity and demand for metals. There is also a possibility of margins of these companies being hit as coking coal prices have increased recently, analysts said.

"Coking coal prices increased by 9% MoM (month-on-month) to $148/tonne, driven by production cuts and a safety crackdown in China," IDBI Capital Markets & Securities, said.

"Various management teams of ferrous companies guided a cautious outlook for 2Q (Jul-Sept), led by softened pricing and monsoon-related demand weakness, while costs are anticipated to be largely stagnant," Motilal Oswal Financial Services said in a note Monday.

Among major companies, Hindalco Industries and Jindal Steel & Power are expected to report their quarterly earnings Tuesday. Hindalco's consolidated net profit in the June quarter is likely to rise 16% on year to INR 35.72 billion, according to estimates by seven brokerages. The company's revenue is expected to rise 6% on year to INR 604.15 billion.

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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

US$1 = INR 87.66

Reported by Anshul Choudhary

Edited by Deepshikha Bhardwaj

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