3 metal stocks to keep an eye on September 9

On Friday morning, the headline indices, i.e. Nifty 50 and Sensex are trading higher as the markets have now seemed to absorb the rate hike news. 

The Sensex is trading at 59,991.89, up by 303.67 points or 0.51% and the Nifty was at 17,886.20, up by 87.45 points or 0.49%.  

BSE Metal index is trading higher by 231.06 points or 1.21%, at 19,270. 85, whereas the Nifty Metal index is at 6091.25, up by 1.33%.  

Following are the three metals stocks to keep an eye on September 9:

Hindustan Zinc Limited:  By means of a certificate of incorporation issued by the Central Registration Centre, Manesar, Hindustan Zinc Limited established a wholly-owned subsidiary on September 7, 2022, in the state of Rajasthan under the name and style of "Hindustan Zinc Fertilizers Private Limited." Hindustan Zinc Fertilisers Private Limited will conduct business in India and abroad in the manufacture, sale, and dealing of various grades of nitrogenous, phosphatic, and potassic fertilisers; chemical & other allied items; as well as dealing in all types. The shares of Hindustan Zinc were trading higher by 0.97% on the BSE today. 

NMDC Limited: The PSU iron ore miner NMDC is well ahead in the process of demerging its future steel plant, NMDC Iron and Steel Plant (NISP), into a different business, NMDC Steel Ltd. According to reports, the Ministry of Corporate Affairs (MCA) met with representatives of the PSU miner a few days ago to discuss the issue. The demerger should be finished by the end of Q2FY23 (end of September). The shares of NMDC were up by 1.47% on the BSE today.

Coal India Limited: Coal India has predicted that assuming heavy rains this month do not significantly damage its mining sites, it will come near to achieving its output goal of 306 million tonnes (MT) in the first half of FY23.Over 80% of the domestic coal production is accounted for by Coal India Ltd (CIL). In barely five months and four days of the current fiscal year, Coal India's production rose by 44.6 million tonnes (as of September 4). According to the announcement, CIL's progressive production reached 259.6 MT as of September 4 as opposed to 215 MT at the same time the previous year. The Shares of CIL are trading 0.3% lower on the BSE.