So there is some more scope for upside in metal stocks," said Manoj Vayalar, AVP-derivatives at Religare. Tata Steel rose 4%, Vedanta gained 2%, JSW Steel advanced 1.4% and Hindalco Industries edged 0.1% higher. Metal prices have been rising recently on expectation that global policy makers may announce economic stimulus soon which will boost demand for materials.So far this month, these stocks have gained 4-23%. Hindalco, which has been on investors' radar because of expectation of robust earnings, is the best performing Nifty stock so far this year, with 60% gain. "One of the reasons for the rise (in metal stocks) is Alcoa earnings and internationally LME prices have moved up.Incrementally, people are turning positive on the sector hoping that the worst is behind," said Rikesh Parikh, vice-president, equities, Motilal Oswal Securities.

Source: Economic Times July 13, 2016 20:14 UTC