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Kolkata: The metal sector is doing well in India, thanks to robust domestic demand, resource advantages and conducive regulatory environment. It has attracted investor attention and analysts believe it has a significant amount of steam left still in this round. The Nifty Metal index has appreciated 20% in 2025 and analysts at global brokerage major HSBC believe that there is still room for movement upwards. If the Indian metal and mining stocks are doing well compared to their peers at a global level, HSBC thinks the above factors are to be flagged.
"Indian metals and mining stocks have re-rated in-line with the broader markets. Balance sheets are relatively strong as companies have deleveraged and the long-term outlook is bright as the metals intensity of GDP growth remains elevated, given increasing urbanisation and higher spending on infrastructure, housing construction, and industrial expansion," analysts at HSBC mentioned n a report titled 'India Metals and Mining' sector.
HSBC has assigned a 'Buy' rating on Hindalco Industries, a flagship company of the Aditya Birla Group. The global brokerage firm has also set a target price of Rs 980 per share. Around midday of Nov 21, the Hindalco Industries shares were trading at Rs 779.50, down Rs 20.30 or 2.54%. Therefore, it signalled an upside of 25.72%. HSBC analysts think that the negative impact of a series of setbacks at Novelis, Hindalco's US subsidiary, will begin to fade from FY27.
HSBC has also assigned a 'Buy' rating on National Aluminium Company. On Nov 21, around midday, the National Aluminium Co shares were trading at Rs 253.55, down Rs 4.07 or 1.58%. HSBC has set a target price of Rs 291 per share. Therefore, the target price set by the brokerage major represents a 14.77% upside from the above price on Friday noon.
HSBC has assigned a 'Buy' signal on Tata Steel, India's largest private sector steel producer that is recognised as one of the most efficient producers of the metal in the world. HSBC has set a price target of Rs 215 per share. The Tata Steel stock was trading at Rs 170.15, down Rs 2.31 or 1.34% around midday on Nov 21.
(Disclaimer: This article is only meant to provide information. TV9 does not recommend buying or selling shares or subscriptions of any IPO, Mutual Funds, precious metals, commodity, REITs, INVITs, any form of alternative investment instruments and crypto assets.)
