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Wait for better entry points in metal stocks, JSW Steel and Hindalco top picks: Axis Securities
Aditya Welekar, Senior Research Analyst- Metals, Axis Securities, ranked JSW Steel as his preferred ferrous stock and Hindalco as the top non-ferrous pick. The brokerage also expects aluminium prices to remain around $3,000 per tonne in FY27 and continues to recommend APL Apollo Tubes with a target price of ₹2,250.
VMS TMT board clears AUSL merger with company
VMS TMT has announced its board has approved the merger with TMT bars maker Aditya Ultra Steel Ltd (AUSL). This strategic amalgamation aims to create a robust entity by combining manufacturing, distribution, and financial strengths. Shareholders of AUSL will receive 75 VMS TMT shares for every 100 held. The combined company anticipates a significant boost in manufacturing capacity and operational efficiencies.
Small-cap stock under ₹50 jumps after announcement of amalgamation move
VMS TMT's stock rose following the announcement of an approved merger with Aditya Ultra Steel Limited, aimed at creating a larger and more efficient steel manufacturing entity, pending necessary approvals. Shareholders of AUSL will receive 75 VMS TMT shares for every 100 shares held.
Steel price hike likely in March quarter; JSPL, JSW top picks: Axis Securities
Aditya Welekar, Senior Research Analyst-Metals at Axis Securities says another steel price hike in the January-March quarter of 2026 (Q4FY26) cannot be ruled out, expects spread expansion, and prefers JSPL and JSW over SAIL, which he sees as a tactical bet.
Trade Spotlight: How should you trade NMDC Steel, Aditya Birla Fashion, Lodha Developers, RBL Bank, HDFC Life Insurance, and others on May 8?
Consolidation with range-bound trading is likely to continue until the indices trade below the April high. Below are some short-term trading ideas to consider.