Along with Gold and Silver, Platinum and Copper prices are also trading at record high levels. Copper prices have crossed the $12,000 mark, and are set for their best annual performance since 2009, while Aluminum prices have hit the highest level since 2022.
With the rise in commodity prices, stocks that are a direct play on these metals, have also surged. Most of these metal-proxies are either at 52-week high or at record high levels. Here’s a look at some of these names:
Hindustan Copper
The rise in Copper prices is reflecting in shares of Hindustan Copper, which have surged for the fifth day running. The stock is up another 5% on Wednesday, and has now hit the highest levels since 2010.
Shares of Hindustan Copper have risen 38% in the last one month. In the month of December itself, the stock is up 31%, making it the best month it has had since September.
For the year so far, Hindustan Copper shares have risen 73%, making it the best calendar year performance for the stock since 2023.
The government has 66.14% stake in Hindustan Copper at the end of the September quarter, taking the value of its stake to ₹27,500 crore.
India’s Mutual Funds have negligible stake in the company, while LIC has a 4.7% stake. Over 6.3 lakh small retail shareholders, or those with authorized share capital of up to ₹2 lakh, have a 14.56% stake in the company.
Hindustan Zinc
Silver prices hitting record high levels have also rubbed off on Hindustan Zinc, which is the only listed Silver play in India.
Shares of Hindustan Zinc have gained in 10 out of the last 12 sessions.
Over the last one month, the stock has surged 38%, and a majority of its 41% advance on a year-to-date basis, has come during the last one month.
As a result of this move, the company’s market capitalisation has also crossed the mark of ₹2.5 lakh crore.
Manappuram & Muthoot Finance
Shares of both gold financing companies, Manappuram and Muthoot Finance have hit record high levels in today’s session.
While Manappuram’s shares surged for the sixth straight session to hit a record high of ₹313.4, Shares of Muthoot have also gained for the fourth day in a row to hit a high of ₹3,888.
Gold prices have hit record highs in the futures market, crossing levels of $4,500 an ounce, on hopes of further rate cuts by the US Federal Reserve in 2026, geopolitical tensions, robust ETF inflows and central bank buying.
Shares of Manappuram have risen 65% so far this year, and are set for their best calendar year return since 2019, Muthoot’s shares are up nearly 81% in 2025, taking their market capitalization past the ₹1.5 lakh crore mark.
This is Muthoot’s best year on record, since it went public in 2011.
NALCO, Vedanta and Hindalco
Aluminium prices have risen to their highest level since 2022. That has had a bearing on state-run NALCO, which has hit a record high, having surged 18% in the last one month. The stock is up close to 40% in 2025.
Stocks like Hindalco, and Vedanta, which also have exposure to Aluminium as a business, have hit 52-week high levels in today’s trading session.
Shares of Vedanta are up 35% so far this year, while those of Hindalco have gained nearly 50% so far this year.
