Metal stocks shine as JSW, Tata Steel rally; analysts lift H2FY26 view

JSW Steel hit all-time highs and Tata Steel a 15-month peak as metals gained 20% in six months, driven by global price recovery, US rate-cut hopes and GST-driven demand

There has been a rally in metals stocks, with JSW Steel hitting all-time-highs and Tata Steel at a 15-month high on Thursday. Though the Nifty Metals Index was down 1 per cent on Friday, the rally in the sector has translated into gains of about 20 per cent in the last six months.

 

The gains have been driven by a rise in global metal prices, driven by both supply disruptions and improving demand. Expectations of US rate cuts and a weaker dollar lend further support, while the European Union’s (EU’s) proposal to restrict steel imports is seen as favourable for