Metal
stocks may gain after a preliminary reading of private measure of Chinese
manufacturing jumped more than forecast in September. China is the world's
largest consumer of copper and aluminum.
A
Chinese manufacturing index rose to a six-month high in September, signaling
that a rebound in the world's second-largest economy is gaining steam. The
preliminary reading of 51.2 for a Purchasing Managers' Index released today, 23
September 2013 by HSBC Holdings Plc and Market Economics. The gauge was at 50.1
in August.
Tata Motors is reportedly looking to
raise prices by 1% to 1.5% across its range of commercial and passenger
vehicles, following similar moves by rival carmakers.
Steel Authority of India reportedly
plans to invest around Rs 800 crore to develop Bhilwara iron ore mine in
Rajasthan and set up a pellet plant with 2 million tonne per year capacity.
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