Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

Indian (NIFTY) Metals and Mining Industry Analysis

UpdatedJun 07, 2026
DataAggregated Company Financials
Companies225
  • 7D-2.4%
  • 3M0.5%
  • 1Y22.5%
  • YTD3.4%

Over the last 7 days, the Metals and Mining industry has dropped 2.4%, driven by Hindustan Zinc declining 10%. In contrast, NMDC has gained 5.8%. This takes the industry's 12 month performance to a gain of 22%. Earnings are forecast to grow by 17% annually.

Industry Valuation and Performance

Has the Indian Metals and Mining Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 07 Jun 2026₹22.8t₹13.9t₹1.1t21.2x20.6x1.6x
Tue, 05 May 2026₹22.9t₹13.4t₹919.6b23.6x24.9x1.7x
Thu, 02 Apr 2026₹21.7t₹14.2t₹988.1b20.1x22x1.5x
Sat, 28 Feb 2026₹23.2t₹14.2t₹987.8b20.9x23.5x1.6x
Mon, 26 Jan 2026₹22.4t₹13.9t₹963.2b21.4x23.2x1.6x
Wed, 24 Dec 2025₹20.9t₹13.7t₹930.1b23x22.5x1.5x
Fri, 21 Nov 2025₹19.8t₹13.7t₹931.9b22.6x21.3x1.5x
Sun, 19 Oct 2025₹19.7t₹13.3t₹910.3b23.1x21.7x1.5x
Tue, 16 Sep 2025₹19.1t₹13.2t₹894.3b23.6x21.4x1.5x
Thu, 14 Aug 2025₹18.2t₹13.2t₹889.3b23.3x20.4x1.4x
Sat, 12 Jul 2025₹18.1t₹13.0t₹842.2b23.3x21.5x1.4x
Mon, 09 Jun 2025₹18.2t₹13.0t₹841.1b22.6x21.7x1.4x
Wed, 07 May 2025₹16.3t₹12.9t₹791.9b20.1x20.6x1.3x
Fri, 04 Apr 2025₹17.5t₹12.8t₹775.7b20.7x22.5x1.4x
Sun, 02 Mar 2025₹15.7t₹12.8t₹775.8b19.3x20.2x1.2x
Tue, 28 Jan 2025₹16.5t₹12.6t₹739.3b22.9x22.3x1.3x
Thu, 26 Dec 2024₹17.7t₹12.6t₹755.4b26x23.4x1.4x
Sat, 23 Nov 2024₹17.6t₹12.7t₹759.7b24.2x23.2x1.4x
Mon, 21 Oct 2024₹18.9t₹12.7t₹643.6b27.1x29.4x1.5x
Wed, 18 Sep 2024₹18.5t₹12.7t₹639.3b26.4x28.9x1.5x
Fri, 16 Aug 2024₹17.6t₹12.7t₹660.9b25x26.6x1.4x
Sun, 14 Jul 2024₹19.1t₹12.6t₹624.5b24.8x30.6x1.5x
Tue, 11 Jun 2024₹18.9t₹12.6t₹636.4b25.4x29.7x1.5x
Thu, 09 May 2024₹17.2t₹12.6t₹666.9b23.8x25.7x1.4x
Sat, 06 Apr 2024₹15.7t₹12.7t₹671.9b24.3x23.4x1.2x
Mon, 04 Mar 2024₹15.1t₹12.7t₹672.0b23.9x22.5x1.2x
Wed, 31 Jan 2024₹14.8t₹12.9t₹647.7b23.6x22.9x1.1x
Fri, 29 Dec 2023₹14.6t₹12.9t₹597.0b22.7x24.4x1.1x
Sun, 26 Nov 2023₹13.1t₹12.9t₹596.3b20.8x21.9x1x
Tue, 24 Oct 2023₹12.2t₹12.8t₹661.0b19.2x18.4x0.9x
Thu, 21 Sep 2023₹12.6t₹12.8t₹628.5b18.6x20.1x1x
Sat, 19 Aug 2023₹11.8t₹12.8t₹629.9b16.6x18.8x0.9x
Mon, 17 Jul 2023₹11.8t₹12.8t₹727.7b15.7x16.2x0.9x
Wed, 14 Jun 2023₹11.0t₹12.8t₹731.4b15.4x15x0.9x
Price to Earnings Ratio

15x


Total Market Cap: ₹11.0tTotal Earnings: ₹731.4bTotal Revenue: ₹12.8tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Metals and Mining Industry Price to Earnings3Y Average 23x202420252026
Current Industry PE
  • Investors are pessimistic on the Indian Metals and Mining industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 20.6x which is lower than its 3-year average PE of 23.0x.
  • The 3-year average PS ratio of 1.3x is lower than the industry's current PS ratio of 1.6x.
Past Earnings Growth
  • The earnings for companies in the Metals and Mining industry have grown 15% per year over the last three years.
  • Revenues for these companies have grown 2.8% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the Indian Materials industry?

IN Market-0.83%
Materials-1.77%
Metals and Mining-2.37%
Gold4.96%
Steel0.17%
Copper-2.32%
Aluminum-3.99%
Diversified Metals and Mining-9.82%
Industry PE
  • Investors are most optimistic about the Copper industry even though it's trading below its 3-year average PE ratio of 69.4x.
    • Analysts are expecting annual earnings growth of 33.1%, which is higher than its past year's earnings growth of 7.3% per year.
Forecasted Growth
  • Analysts are most optimistic on the Copper industry, expecting annual earnings growth of 33% over the next 5 years.
  • This is better than its past earnings growth rate of 7.3% per year.
  • In contrast, the Diversified Metals and Mining industry is expected to see its earnings grow by 14% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
526371 NMDC₹92.995.8%
+₹44.8b		28.3%PE11x
539006 PTC Industries₹18.53k15.4%
+₹37.1b		26.6%PE273.6x
500228 JSW Steel₹1.28k0.5%
+₹15.9b		27.8%PE14x
NSLNISP NMDC Steel₹49.9612.0%
+₹15.6b		26.7%PE249.3x
504614 Sarda Energy & Minerals₹546.356.4%
+₹11.6b		25.4%PE17.4x

Latest News

539006
₹18,532.70
PTC Industries
7D
15.4%
1Y
26.6%
VEDL
₹315.60
Vedanta
7D
-10.5%
1Y
-29.6%
New Narrative • Jun 06

VEDANTA LTD (POST-DEMERGER) THE BULL CASE

June 2026 What happened: On May 1, 2026, Vedanta demerged into 5 independent entities. Aluminium, Oil & Gas, Power, and Steel are now separate listed companies.
500188
₹567.00
Hindustan Zinc
7D
-10.4%
1Y
12.9%
512455
₹1,778.95
Lloyds Metals and Energy
7D
-1.4%
1Y
22.0%
526371
₹92.99
NMDC
7D
5.8%
1Y
28.3%
Narrative Update • Jun 05

526371: Rare Earth Partnership And Dividend Outlook Will Support Future Upside Potential

Narrative Update: NMDC Price Target Change The analyst price target for NMDC has been raised from ₹95 to ₹106, with analysts pointing to updated assumptions around revenue growth, profit margins and a higher future P/E multiple as key drivers of the new valuation. What's in the News GMDC and NMDC signed a Memorandum of Understanding to explore collaboration in the Rare Earth Elements sector, focusing on building an integrated value chain in Gujarat, including exploration, mining, beneficiation, processing and downstream applications.
JINDALSTEL
₹1,181.30
Jindal Steel
7D
-2.1%
1Y
22.7%
Narrative Update • Jun 04

JINDALSTEL: Expanded Steel Capacity Will Heighten Execution Risks And Sustain Overvaluation

Analysts have adjusted their fair value estimate for Jindal Steel from about ₹858 to roughly ₹950, reflecting updated views on revenue growth, profit margins, and the stock’s potential future P/E ratio. What's in the News A board meeting is scheduled for May 1, 2026, at 12:30 Indian Standard Time to consider and approve audited standalone and consolidated financial results for the quarter and year ended March 31, 2026 (Financial Year 2025-26).
NATIONALUM
₹395.70
National Aluminium
7D
-6.8%
1Y
110.0%
Narrative Update • Jun 03

NATIONALUM: Production Metrics And Dividend Outlook Will Support Balanced Near Term View

Analysts have nudged their price target on National Aluminium higher to ₹404.64 from ₹383.58, citing updated assumptions around fair value, discount rate, revenue growth, profit margin and future P/E that together support a modestly richer valuation framework. What's in the News A board meeting is scheduled for March 6, 2026, to consider the fine levied by the exchanges, according to company disclosures.
500470
₹206.80
Tata Steel
7D
-1.0%
1Y
31.3%
Narrative Update • Jun 02

500470: Future Legal Clarity On Tax And Mining Will Drive Upside

The analyst price target for Tata Steel has been revised from ₹240 to ₹275, with analysts citing updated assumptions on discount rate, revenue growth, profit margins and future P/E as key reasons for the change. What's in the News Tata Steel received a Demand cum Show Cause Notice related to alleged irregular Input Tax Credit for FY2018-19 to FY2020-21, with the adjudicating authority confirming tax of ₹8,905.2 million, an equal penalty and interest.
SHYAMMETL
₹1,001.30
Shyam Metalics and Energy
7D
2.9%
1Y
15.1%
Narrative Update • Jun 02

SHYAMMETL: Expansion Programme And Upcoming Board Decisions Will Support Bullish Thesis

Analysts have adjusted the price target for Shyam Metalics and Energy from ₹1,200 to ₹1,250 as they factor in updated assumptions on discount rates, revenue growth, profit margins, and a higher future P/E multiple. What's in the News Board meeting scheduled for May 11, 2026, to review audited standalone and consolidated results for the year ended March 31, 2026; consider a final dividend for FY 2025-26; assess future capex plans; and take up other business items as approved by the Chair.
NSLNISP
₹49.96
NMDC Steel
7D
12.0%
1Y
26.7%
500440
₹1,092.45
Hindalco Industries
7D
-3.0%
1Y
68.1%
504614
₹546.35
Sarda Energy & Minerals
7D
6.4%
1Y
25.4%
KIOCL
₹405.45
KIOCL
7D
2.2%
1Y
28.4%
500228
₹1,284.20
JSW Steel
7D
0.5%
1Y
27.8%
Narrative Update • May 25

500228: Resource Security Projects And Joint Ventures Will Support A Balanced Outlook

Analysts have lifted their price target for JSW Steel from ₹1,249.58 to ₹1,361.60, reflecting updated views on fair value, discount rate, revenue growth, profit margin expectations, and a higher assumed future P/E multiple. What's in the News JSW Steel reported consolidated crude steel production of 2.118 million tonnes for April 2026, compared with 2.140 million tonnes a year earlier, with prior year figures adjusted to exclude the steel business of Bhushan Power and Steel that was transferred to the JSW JFE Steel joint venture in March 2026 (company announcement).
SAIL
₹190.56
Steel Authority of India
7D
-6.8%
1Y
41.1%
Narrative Update • May 24

SAIL: Higher Future P E Assumptions Will Pressure Forward Returns

Analysts have lifted the indicative fair value for Steel Authority of India to ₹181.82 from ₹146.78, reflecting adjusted assumptions for revenue growth, discount rate and future P/E that align with a more supportive research backdrop for the sector. Analyst Commentary Recent Street research around identity security and governance highlights how analysts are thinking about valuation, long term addressable markets and execution quality, which can offer useful context when you assess Steel Authority of India’s updated fair value.
500365
₹51.61
Welspun Specialty Solutions
7D
21.5%
1Y
50.4%