Vedanta, Hindalco, other metal stocks slide 6% on growth concerns amid trade war
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Shares of metal stock tumbled by up to 6% in today’s session as uncertainties surround the future outlook of these companies after U.S. President Trump's reciprocal tariffs have raised concerns over global demand growth and the potential disruption of business activities worldwide. The shares of National Aluminium Company (NALCO) dipped the highest, falling by 6% to an intraday low of Rs 162.40, followed by Vedanta shares, which fell by 5.7% to Rs 414.35 in early trade and Hindalco shares falling by 5.4% to Rs 617.15. Further, the shares of Tata Steel and Hindustan Zinc fell by nearly 5.5% each. Yes Securities' executive director Amar Ambani, in a report quoted by the Times of India, explained that the unchanged 25% US tariff on steel and aluminium will increase US domestic prices. “However, exporters from Vietnam, Japan, and South Korea are pivoting to India and the Middle East,” Ambani added. Live Events As a result, India is fa...