According to market analysts, several Indian companies are expected to be in focus on Tuesday, including Oil and Natural Gas Corp., PCBL Chemical Ltd., Adani Ports and Special Economic Zone Ltd., and NTPC Ltd. Additionally, the metal sector is expected to come under scrutiny following the imposition of tariffs by newly elected US President Donald Trump on Mexico, Canada, and China. Both Canada and China have sought the World Trade Organization (WTO) to intervene, which could lead to bearish pressure on metal prices in the short term, according to JPMorgan.
Analysts at JPMorgan have warned that US tariffs on these countries could drive near-term bearish pressure on LME base metal prices. This comes as a concern for the metal sector, which has already faced pressure in recent times. However, some analysts remain optimistic about the sector, citing potential gains from increased infrastructure spending and industrial growth.
For the companies mentioned, analysts have issued various ratings and price targets. For instance, Oil and Natural Gas Corp. has been given a “buy” rating by analysts at Edelweiss, who have set a price target of Rs 140. PCBL Chemical Ltd. has been given a “neutral” rating by analysts at Jefferies, who have set a price target of Rs 340. Adani Ports and Special Economic Zone Ltd. has been given a “buy” rating by analysts at ICICI Securities, who have set a price target of Rs 380. NTPC Ltd. has been given a “neutral” rating by analysts at Motilal Oswal, who have set a price target of Rs 160.
Overall, the market is expected to remain volatile in the coming days, with the metal sector being closely watched for any signs of a turnaround. Analysts will be closely monitoring the situation and issuing updates on the companies and sectors that are likely to be affected.