Metal worst hit sector of CY23! Is a turnaround likely?
By
, ETMarkets.com|
1/6
Losing Mettle
In CY23, the Nifty Metal index has been struggling. It has recorded a decline of roughly 18%, making it the worst performer so far. Compared to this, the benchmark Nifty has only dropped by about 3%. Out of the 15 stocks that constitute the Nifty Metal index, 12 have witnessed a negative performance in CY23, with five of them witnessing a significant decline of 10-55% in just over three months. Despite this, four out of these five stocks have the potential for growth, with a possible upside of 25-100%, according to Trendlyne data. (Data Source: ACE Equity)
iStock
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Adani Enterprises
CY23 return so far: -55% | CMP: Rs 1754 According to Trendlyne data, the average estimated share price target is Rs 3,512, suggesting an upside of around 100%.
Agencies
3/6
Hindalco Industries
CY23 return so far: -14% | CMP: Rs 405 According to Trendlyne data, the average estimated share price target is Rs 521, suggesting an upside of around 29%.
Agencies
4/6
Vedanta
CY23 return so far: -11% | CMP: Rs 273 According to Trendlyne data, the average estimated share price target is Rs 353, suggesting an upside of around 29%.
Agencies
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JSW Steel
CY23 return so far: -11% | CMP: Rs 683 According to Trendlyne data, the average estimated share price target is Rs 677, suggesting a downside of 1%.
Agencies
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NMDC
CY23 return so far: -10% | CMP: Rs 111 According to Trendlyne data, the average estimated share price target is Rs 139, suggesting an upside of around 25%.