On account of rising steel and iron ore prices in the international market, stock experts are bullish on metal stocks, especially those dealing in these particular metals. Speaking on the reason for rise in metal stock prices Avinash Gorakshkar, Head of Research at Profitmart Securities said, "Steel and iron ore prices in the international markets have gone higher and due to this metal stocks are expected to do well in immediate short-term to medium term. The rising trend is expected to exist for at least six months and hence one can buy metal stocks for short-term to medium term time-horizon." Unveiling investment strategy in above mentioned metal stocks Mudit Goel, Senior Research Analyst at SMC said, "On can buy NMDC shares at current market price for the targets ₹200 and ₹220 maintaining stop loss at ₹173. For Tata Steel shares, Goel advised investors to buy SAIL stocks at current price for the target of ₹1200 maintaining stop loss at ₹1130.

Source: Mint May 08, 2021 07:18 UTC