Most brokerages expect a healthy improvement in earnings for the ferrous sector, with Ebitda growth likely on both a year-on-year (Y-o-Y) and quarter-on-quarter (Q-o-Q) basis
Ajit Mishra expects upside momentum to continue in metal shares for now. Among individual stocks he predicts up to 18% upside in Jindal Steel, National Aluminium and NMDC.
The companies could decide to officially stop negotiations as soon as next month, one of the people said
Jindal Steel doubles Angul complex capacity to 12 MTPA, strengthening domestic production and reducing import dependence amid global supply disruptions
Juergen Kerner said labour representatives had presented Jindal, which has been doing due diligence on Thyssenkrupp's steel unit since October, with a detailed questionnaire
In the ferrous space, analysts at ICICI Securities don't foresee any major impact due to ongoing geopolitical tensions as exports share of total steel production is pegged at <6 per cent.
Nifty Metal index: At 10:45 AM on Friday; the metal index was the top sectoral indices loser down 4.3 per cent as against 1.3 per cent decline in the Nifty 50.
Among sector players, Nomura has maintained Buy recommendations on Tata Steel with a target price of ₹220 per share, JSW Steel at ₹1,340, Jindal Steel at ₹1,280, and Lloyds Metals & Energy at ₹1,600
According to analysts, the broader weakness in metal stocks reflects the risk-off sentiment across global markets amid rising geopolitical tensions
Tata Steel, JSW Steel and Jindal Steel hit their respective all-time highs on the NSE today
The policy support, safeguard measures, and the likelihood of regulatory adjustments are improving industry visibility, say analysts.
Thus far in CY26, the Nifty Metal has been the best performing sectoral index that moved up around 10 per cent, ACE Equity data shows. In comparison, the Nifty 50 index lost nearly 1 per cent
India's steel consumption to grow by 8 per cent- 9 per cent in the next few years, aided by strong demand from the infrastructure, construction and manufacturing sectors, believe analysts.
Metal stocks today: Hindustan Copper, NALCO, Vedanta, Hindustan Zinc, Hindalco Industries and NMDC were down in the range of 6 per cent to 11 per cent on the NSE in Friday's intra-day trade.
Aakash Shah, technical analyst at Choice Equity Broking expects Jindal Steel stock to rally towards ₹1,180-1,220 target zone in the coming weeks.
At 11:15 AM on Wednesday; the Nifty Metal index was up 2.5 per cent, as compared to 0.6 per cent rise in the Nifty 50.
Ajit Mishra of Religare Broking has recommended buying the shares of Dalmia Bharat, Jindal Steel, and LIC Housing Finance today
At 10:21 AM on Wednesday, the Nifty Metal index was the top gainer among the sectoral indices up 2 per cent, as compared to 0.23 per cent decline in the Nifty 50
Traditionally, Q4 is seasonally strong for volume push, and thus, analysts expect most steel companies to foresee very sharp reversal in margins in Q4FY26.
However, in the past one month, the Nifty Metal index has rallied 10 per cent, as against 0.17 per cent rise in the Nifty 50.