Metallica Prices broadly stable; volatility likely ahead::Emkay PDF link

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Metallica Prices broadly stable; volatility likely ahead While non ferrous metals prices improved (2-8%), steel prices remained broadly stable during last fortnight (ending 2nd March’12). This we believe was due to seasonality and supportive global macro economic factors during this period. We expect development in Europe and Middle-East along with movement in USD to keep prices volatile going ahead. n     Ferrous: Steel prices maintaining stability n     Non-ferrous: Aluminium has been biggest gainer n     Macroeconomics: Overall supportive, however concerns remain CMP TP Reco HZL 142 159 Buy Tata steel 460 422 Hold Sterlite Ind. 121 123 Hold Hindalco 147 154 Acc Sesa Goa 208 205 Hold JSW Steel 794 590 Red Bhushan 391 315 Hold HEG 241 230 Acc GPIL 106 133 Buy

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