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Indian steel bulls about to hit speed bump! Analysts say they are in bubble zone

Indian steel bulls about to hit speed bump! Analysts say they are in bubble zone


News is brought to you by Mr. Shailesh Karia


Published on date 04th May 2021.


MUMBAI: A gravity-defying rally in Indian steel stocks is drawing murmurs on Dalal Street, that the space may be entering bubble zone.


Brokerage firm CGS-CIMB on Friday termed the rally as ‘irrational enthusiasm’, as it thought “unlike the post-Lehman crisis world, there is nothing structural about this rally.”


There may be some merit to CGS-CIMB’s claims when one peeks into the current valuations of India’s top two steel producers – JSW Steel NSE -1.09 % and Tata Steel NSE -0.08 %. Both


 


Source : https://economictimes.indiatimes.com/


 





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