The Hindu Business Line : Metal bigwigs sizzle

FERROUS and non-ferrous metal majors such as Tata Steel, Hindalco, National Aluminium and SAIL have been on a steady uptrend. The impressive earnings numbers of Tata Steel may also help extend this trend. Stocks of small-sized steel industry players such as Raipur Alloys, Bhushan Steels and VBC Ferro Alloys continue to ride on the fancy for steel sector stocks.

Mixed bag of health

Mid-cap pharma stocks had a divergent run. The likes of Lupin and Aurobindo posted sharp gains. But Orchid and Nicholas Piramal were among the prominent ones to exhibit price weakness. This is a change from the trend a few weeks ago when the second-run pharma stocks moved up across the board.

Select Auto Interest

A degree of selectivity has also appeared in auto ancillary stocks. In the past week, the price action has not been broad-based. But a few such as Bharat Forge, Sundram Fasteners, IP Rings, Exide Industries, and Samkrg Pistons have shown firm trends. The earnings numbers of Tata Motors and Maruti confirmed the improved business prospects for auto-ancillaries.

Scattered plays

Across a wide range of sectors, a sizable number of mid-cap and small-cap stocks continue to hold the markets in thrall. Monsanto, Satnam Overseas, Heritage Foods, Goodlass Nerolac, Hughes Software, E-Serve, ING Vysya Bank and Kirloskar Oil Engines stand out for a pronounced spurt in stock prices spread over 6 to 12 trading days.

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