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Sowmya Sundar

Second-rung steel

The bull run in steel stocks has now boiled down to second and third-rung stocks too. Not that the rally in the frontline stocks has fizzled out. SAIL doubled in value over the period and returns on Tata Steel was 25 per cent over the period. For instance, a few second-rung steel stocks such as Satvahana Ispat, Ispat Industries, Uttam Galva, Lloyd Steel, Sunflag Iron and Steel, Bhushan Steel have been riding high over the period.

Shipping

Shipping stocks continued to sizzle on the back of firm trends in tanker freight rates and dry cargo freight rates. The week before saw frantic buying in frontline shipping stocks such as Shipping Corporation of India, GE Shipping and Essar Shipping.

Cement

Companies whose financials are still in weak shape such as Panyam Cement, Chettinad Cement and India Cements too are riding on the back of the bullish in frontline cement stocks.

Power

Power sector has been in the limelight for quite some time. Tata Power and BSES, which are engaged in power generation, transmission and distribution, witnessed a sharp spurt. Ahmednagar Electricity remained firm.

Auto component

Piggybacking on the positive sentiment in the auto component sector, a few mid and small-cap auto component stocks have gained popularity. A few of them such as LG Balakrishnan Brothers, Ahmednagar Forgings, MM Forgings, Tube Investments, Auto Axles, Premier Instruments and Premier Auto were in limelight.

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