Metal Stocks: Nifty metal rises 27% this year, Outperforms Nifty 50

Metal stocks continued to outperform the broader market so far this year, supported by firm commodity prices and sector-specific developments.

The Nifty Metal index has clearly outperformed the broader market over this year. Nifty Metal has gained 27.40 per cent, rising by 2,359.05 points to 10,968.90, while the benchmark Nifty 50 has increased 9.72 per cent, adding 2,297.45 points to trade at 25,942.35 during the same period.

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In the latest session, the BSE Metal index was up 1.05 per cent at 35,945.49, while the Nifty Metal index gained 1.13 per cent to trade near 10,911 levels.

In stock-specific moves, National Aluminium Company (NALCO) rose 2.69 per cent. Jindal Stainless (JSL) gained 2.50 per cent, while SAIL advanced 2.47 per cent. NMDC climbed 2.34 per cent, and Hindalco Industries added 1.94 per cent.

Jindal Steel and Power rose 1.59 per cent to Rs 1,006.20, while Hindustan Zinc gained 1.41 per cent. Vedanta was up 1.08 per cent. Tata Steel edged higher by 0.37 per cent, while JSW Steel traded marginally higher at Rs 1,093.90.

On the downside, Adani Enterprises slipped 0.11 per cent, while APL Apollo Tubes declined 0.60 per cent. Welspun Corp fell 3.22 per cent, and Lloyds Metals dropped 5.07 per cent.

Motilal Oswal’s recommendations on select metal stocks indicate mixed upside and downside potential based on current market prices (CMP) and target levels.

• Hindalco Industries Share Price Target: Trading at Rs 880.65, the stock has a buy rating with a target of Rs 920, indicating an upside of about 4.5 per cent.
• Hindustan Zinc Share Price Target: At a CMP of Rs 628, the stock is rated neutral with a target of Rs 510, implying a downside of nearly 19 per cent.
• Jindal Steel & Power Share Price Target: The stock is trading at Rs 1,016.30 and carries a buy rating with a target of Rs 1,240, suggesting an upside of around 22 per cent.
• JSW Steel Share Price Target: Priced at Rs 1,098.70, the stock has a buy call with a target of Rs 1,350, indicating an upside of nearly 23 per cent.
• Jindal Stainless Share Price Target: Trading at Rs 815, the stock is rated buy with a target of Rs 870, implying an upside of about 7 per cent.
• NALCO Share Price Target: At a CMP of Rs 310.65, the stock is rated neutral with a target of Rs 250, indicating a downside of nearly 20 per cent.
• NMDC Share Price Target: The stock is trading at Rs 83.15 and has a buy rating with a target of Rs 88, suggesting an upside of about 6 per cent.
• SAIL Share Price Target: Trading at Rs 140.70, the stock carries a neutral rating with a target of Rs 150, indicating an upside of around 7 per cent.
• Tata Steel Share Price Target: Priced at Rs 175.02, the stock has a buy call with a target of Rs 210, implying an upside of about 20 per cent.
• Vedanta Share Price Target: Trading at Rs 600.35, the stock is rated neutral with a target of Rs 540, indicating a downside of around 10 per cent.

Copper prices also moved higher. Copper futures rose 4.44 per cent to Rs 1,287.30 per kg on the Multi-Commodity Exchange amid higher spot demand and increased participation by market players. January delivery contracts recorded a turnover of 12,668 lots during the session.

On the global front, China announced that it will continue to regulate crude steel output and prevent illegal capacity additions from 2026 to 2030. The move follows earlier steps taken to limit steel production growth as part of carbon emission control measures.

China’s crude steel output fell 4 per cent year-on-year in the first 11 months of 2025, putting annual production on track to fall below 1 billion tonnes for the first time in six years. Despite weak domestic demand, China’s steel exports have remained strong, leading to trade restrictions in several countries.