1 min read.Updated: 04 Jul 2022, 12:15 PM ISTLivemint
Indian metal stocks have underperformed Nifty by 12-34% in June quarter as metal prices fell sharply
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Indian metal stocks have underperformed Nifty by 12-34% in June quarter (Q1) as metal prices fell sharply amid rising risk of global slowdown and imposition of steel export duty. Metal stocks have high correlation to consensus earnings trajectory, and global brokerage Jefferies believes that the earnings cycle is inflecting down.