The popularity of EVs in the stock market is going through the roof even before EVs are prevalent on Indian roads. The most obvious choices could revolve around battery manufacturers or component suppliers to automakers. Don’t ignore steel and ferro-alloy manufacturers in this context.
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Considering the annualized 9MFY21 EPS of Rs 15, NMDC is currently available at the Price-to-Earnings multiple of 9 and Price-to-Book (PB) multiple of 1.4. The company has a net worth of Rs 28, 885 crore and has a decent track record of dividend payouts.
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Some experts believe, steel prices have run ahead of their fundamentals but others believe there’s more steam left. Instead of getting into predicting which camp may prove right, we decided to scout for companies that aren’t much affected by the price volatility in steel but may benefit if the sector does well. We came across one such company, Kolkata-based Maithan Alloys.
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