Nifty Metal up 12% in 1-mth; Hind Copper zooms 12% today; key triggers here

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.

Nifty Metal index movement today

 

Shares of metal companies continued their upward movement, with the Nifty Metal index hitting a new high at 12,140.85, as it rallied nearly 3 per cent on the National Stock Exchange (NSE) in Wednesday’s intra-day trade.

 

At 11:15 AM; Nifty Metal index was up 2.5 per cent, as compared to 0.6 per cent rise in the Nifty 50. In the past one month, the metal index has zoomed 12 per cent, as against a 2 per cent decline in the benchmark index.

 

Vedanta, Tata Steel, National Aluminium (NALCO), JSW Steel and Hindalco Industries hit new record highs in intra-day deals today. These stocks were up in the range of 3 per cent to 5 per cent in intra-day deals.

 

 

Hindustan Copper rallied 12 per cent to ₹629, also its 52-week high on the NSE on the back of heavy volumes. A combined 62.8 million equity shares changed hands on the NSE and BSE. In the past one month, the stock has zoomed 29 per cent from a level of ₹487.45.  CATCH STOCK MARKET UPDATES TODAY LIVE

What's driving metal stocks?

 

Prime Minister Narendra Modi on Tuesday, January 27, 2026 announced the signing of a free trade agreement (FTA) between India and the European Union (EU). 

 

India-European Union trade deal includes provisions to reduce import duties on aluminium,  copper, zinc, nickel, lead and tin to zero from up to 10 per cent currently, along with negotiations for a higher steel export quota. 

 

The duty reduction on aluminium is expected to support Indian producers with export exposure to Europe. Hindalco Industries, Vedanta Aluminium and NALCO are set to benefit, given their position as the largest aluminium producers in India, ICICI Securities said in a note.

 

In the past two trading days, the stock price of Hindustan Copper has surged 17 per cent after the company said it emerged as a preferred bidder for the Baghwari-Khirkhori Copper and Associated Mineral Block in Madhya Pradesh. 

 

Hindalco informed the exchanges that it earmarked ₹21,000 crore for 3.6 lakh tonne per annum smelter expansion at its Aditya Aluminium complex in Sambalpur, Odisha. In addition, it has commissioned a 1.7 lakh-tonne-per-annum Flat Rolled Products and battery-grade aluminium foil manufacturing facility, involving an investment of ₹4,500 crore. 

 

Hindalco is India’s largest flat rolled products player, accounting for over 50 per cent of the domestic market.

 

The commissioning of downstream facilities is expected to lift downstream EBITDA to $300/ton (vs $186/ton in FY25). With this, ICICI Securities said they remain long term positive on stock, supported by strategic capacity expansions across geographies, increasing share of value added products, and continued improvement in operating efficiencies.

 

Meanwhile, as per World Steel Association, India steel production was up 10 per cent YoY to 14.8 million tons (MT) in December 2025 with production in CY25 reaching to 164.9 MT (up 10 per cent YoY). China production volume declined by 10 per cent YoY to 68 MT with production in CY25 reaching 960.8 MT (down 4.4 per cent YoY).  ALSO READ | Vedanta shares hits all-time high as board approves Hindustan Zinc OFS

Metal & Mining Q3FY26 result preview

 

Analysts at Systematix Shares and Stocks (India) expect its coverage companies across the metals, mining, and steel pipes segment, including the likes of - Tata Steel, JSW Steel, SAIL, NMDC, Coal India, MOIL, Hindalco, NALCO, Vedanta, Hindustan Zinc, APL Apollo Tubes, Welspun Corp and Jindal SAW - to post a strong set of numbers for December 2025 quarter (Q3FY26), owing to a stronger demand quarter post monsoon.

 

The brokerage firm estimate 5 per cent/7 per cent/10 per cent YoY growth in revenue/EBITDA/PAT from the coverage companies with non-ferrous companies leading the pack, followed by select names in the steel tubes, and mining space that are likely to outperform others, driven by volume growth, and superior product mix, further supported by favorable base metal and precious metal prices during the quarter.  ====================================  Disclaimer: View and outlook shared on the stock belong to the respective brokerages and are not endorsed by Business Standard. Readers discretion is advised.