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Metal majors Hindalco and Sterlite have been witnessing some selling pressure of late on the back of a few broking houses putting out a `sell' recommendation on metal stocks.

According to market players, metals, particularly copper and aluminium, have been at the receiving end for quite some time at the LME, with prices falling sharply.

Analysts said that though the fall is quite steep, prices are unlikely to recover quickly, which will lead to margin pressure. According to them, at best, prices of these metals may hover around at current levels for some more time, if not for further weakness.

Sterlite Industries has a presence across metals such as copper, aluminium and zinc; Hindalco is mainly into copper and aluminium.

K.S. Badri Narayanan

More Stories on : Stock Markets | Stocks | Metals | Ear to the ground

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