Previously shared this as a value pick around Rs83.
The companies steel plant is progressing well and is now a disinvestment target. Beyond that their core business of iron ore is booming w the steel cycle being strong. They this week increased ore prices again.
The stock has just broken out of a long term downward channel. Buy at CMP but the SL is deeper than the usual 117.
This stock could keep up its momentum in the coming weeks and also announce a super dividend in March 2021.
The companies steel plant is progressing well and is now a disinvestment target. Beyond that their core business of iron ore is booming w the steel cycle being strong. They this week increased ore prices again.
The stock has just broken out of a long term downward channel. Buy at CMP but the SL is deeper than the usual 117.
This stock could keep up its momentum in the coming weeks and also announce a super dividend in March 2021.