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Indian (NIFTY) Metals and Mining Industry Analysis

UpdatedSep 18, 2026
DataAggregated Company Financials
Companies233
  • 7D-3.3%
  • 3M-1.1%
  • 1Y13.3%
  • YTD0.4%

Over the last 7 days, the Metals and Mining industry has dropped 4.9%, driven by pullbacks in Vedanta Aluminium Metal and JSW Steel of 7.5% and 3.9%, respectively. In the past year, the industry has gained 12%. Earnings are forecast to grow by 15% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 18 Sep 2026₹22.6t₹14.8t₹1.3t20.1x17.8x1.5x
Sun, 16 Aug 2026₹22.9t₹14.8t₹1.3t19.4x17.9x1.5x
Tue, 14 Jul 2026₹21.6t₹14.0t₹1.1t21.2x19.3x1.5x
Thu, 11 Jun 2026₹22.1t₹14.0t₹1.1t21x19.9x1.6x
Sat, 09 May 2026₹23.3t₹13.5t₹942.7b23.3x24.7x1.7x
Mon, 06 Apr 2026₹21.8t₹14.2t₹988.1b20.4x22x1.5x
Wed, 04 Mar 2026₹23.2t₹14.2t₹987.7b20.4x23.5x1.6x
Fri, 30 Jan 2026₹24.1t₹13.9t₹964.0b21.6x25x1.7x
Sun, 28 Dec 2025₹21.2t₹13.7t₹929.8b23.3x22.8x1.6x
Tue, 25 Nov 2025₹19.1t₹13.7t₹931.8b22.2x20.5x1.4x
Thu, 23 Oct 2025₹19.8t₹13.3t₹910.5b23.6x21.7x1.5x
Sat, 20 Sep 2025₹19.2t₹13.2t₹894.5b22.9x21.5x1.5x
Mon, 18 Aug 2025₹17.9t₹13.2t₹895.5b22.8x20x1.4x
Wed, 16 Jul 2025₹18.2t₹13.0t₹842.0b23.2x21.6x1.4x
Fri, 13 Jun 2025₹18.3t₹13.0t₹841.1b22.8x21.7x1.4x
Sun, 11 May 2025₹16.1t₹12.9t₹794.0b19.7x20.3x1.3x
Tue, 08 Apr 2025₹15.3t₹12.8t₹775.7b19.1x19.7x1.2x
Thu, 06 Mar 2025₹16.5t₹12.8t₹775.7b20.6x21.2x1.3x
Sat, 01 Feb 2025₹16.8t₹12.7t₹733.5b23.3x22.9x1.3x
Mon, 30 Dec 2024₹17.6t₹12.7t₹757.9b25.8x23.2x1.4x
Wed, 27 Nov 2024₹17.8t₹12.6t₹755.4b24.6x23.6x1.4x
Fri, 25 Oct 2024₹18.1t₹12.7t₹644.4b25.6x28.1x1.4x
Sun, 22 Sep 2024₹18.5t₹12.7t₹639.3b26.5x28.9x1.5x
Tue, 20 Aug 2024₹17.9t₹12.7t₹639.6b25.2x27.9x1.4x
Thu, 18 Jul 2024₹19.1t₹12.6t₹624.6b25.6x30.6x1.5x
Sat, 15 Jun 2024₹19.1t₹12.6t₹621.0b25.4x30.8x1.5x
Mon, 13 May 2024₹17.2t₹12.6t₹667.3b23.6x25.7x1.4x
Wed, 10 Apr 2024₹16.3t₹12.7t₹671.9b24.3x24.2x1.3x
Fri, 08 Mar 2024₹14.9t₹12.7t₹672.0b23x22.2x1.2x
Sun, 04 Feb 2024₹15.0t₹12.9t₹664.4b25.3x22.6x1.2x
Tue, 02 Jan 2024₹14.8t₹12.9t₹597.0b22.5x24.7x1.1x
Thu, 30 Nov 2023₹13.2t₹12.9t₹596.3b21x22.1x1x
Sat, 28 Oct 2023₹12.0t₹12.9t₹665.6b19.1x18.1x0.9x
Mon, 25 Sep 2023₹12.5t₹12.8t₹628.5b18.5x19.9x1x
Price to Earnings Ratio

19.9x


Total Market Cap: ₹12.5tTotal Earnings: ₹628.5bTotal Revenue: ₹12.8tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Metals and Mining Industry Price to Earnings3Y Average 23.1x202420252026
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 17.5x which is lower than its 3-year average PE of 23.1x.
  • The industry is trading close to its 3-year average PS ratio of 1.4x.
Past Earnings Growth
  • The earnings for companies in the Metals and Mining industry have grown 26% per year over the last three years.
  • Revenues for these companies have grown 4.9% 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-1.65%
Materials-3.23%
Metals and Mining-3.30%
Steel-2.94%
Gold-3.54%
Aluminum-3.74%
Diversified Metals and Mining-3.76%
Copper-7.92%
Industry PE
  • Investors are most optimistic about the Copper industry even though it's trading below its 3-year average PE ratio of 69.8x.
    • Analysts are expecting annual earnings growth of 28.8%, which is higher than its past year's earnings growth of 3.0% per year.
Forecasted Growth
  • Analysts are most optimistic on the Copper industry, expecting annual earnings growth of 29% over the next 5 years.
  • This is better than its past earnings growth rate of 3.0% per year.
  • In contrast, the Diversified Metals and Mining industry is expected to see its earnings grow by 8.3% 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
500470 Tata Steel₹188.001.1%
+₹25.6b		9.3%PE21.3x
539006 PTC Industries₹22.61k1.3%
+₹4.3b		45.7%PE269.9x
VENUSPIPES Venus Pipes and Tubes₹2.13k9.4%
+₹3.8b		56.6%PE42.6x
KIRLOSIND Kirloskar Industries₹3.78k5.7%
+₹2.1b		-7.4%PE26.1x
VSSL Vardhman Special Steels₹406.053.6%
+₹1.4b		51.0%PE27.4x

Latest News

532144
₹2,460.50
Welspun
7D
-11.4%
1Y
174.8%
Narrative Update • Sep 17

532144: Record Order Pipeline Will Likely Fail To Justify Elevated Pricing

Analysts have nudged their fair value price target for Welspun higher from ₹1,794 to ₹1,930, reflecting updated assumptions on revenue growth, profit margins and the future P/E profile under a slightly lower discount rate. What’s in the News for Welspun Welspun Corp announced the largest single order in its history, valued at approximately US$1,800 million (₹17,200 million), for pipe supply from its United States facility, with execution scheduled between FY 2028 and FY 2029.
VENUSPIPES
₹2,131.70
Venus Pipes and Tubes
7D
9.4%
1Y
56.6%
KIRLOSIND
₹3,780.60
Kirloskar Industries
7D
5.7%
1Y
-7.4%
VSSL
₹406.05
Vardhman Special Steels
7D
3.6%
1Y
51.0%
Analysis Article • Sep 14

Do Vardhman Special Steels' (NSE:VSSL) Earnings Warrant Your Attention?

The excitement of investing in a company that can reverse its fortunes is a big draw for some speculators, so even...
513599
₹485.50
Hindustan Copper
7D
-8.0%
1Y
73.3%
539006
₹22,607.80
PTC Industries
7D
1.3%
1Y
45.7%
500440
₹983.80
Hindalco Industries
7D
-3.5%
1Y
31.2%
Narrative Update • Sep 06

500440: Renewable Specialty Alumina Expansion Will Support Long Term Upside

Analysts have raised their price target for Hindalco Industries from ₹1,135.38 to ₹1,161.55, based on updated assumptions that include a revised discount rate, an adjusted revenue growth outlook, slightly higher profit margin expectations, and a lower future P/E. What’s in the News for Hindalco Industries Hindalco Industries has commissioned a greenfield Superfine PPT ATH specialty alumina plant in Belagavi, Karnataka, with a Phase 1 capacity of 30,000 tonnes per year.
MANAKCOAT
₹129.69
Manaksia Coated Metals & Industries
7D
4.3%
1Y
-5.9%
500470
₹188.00
Tata Steel
7D
1.1%
1Y
9.3%
Narrative Update • Sep 03

500470: Tax Disputes And Expansion Capex Will Shape Fairly Valued Share Outlook

The analyst price target for Tata Steel has been revised from ₹171.25 to ₹175.00 as analysts adjust their fair value assumptions and valuation multiple, including a higher future P/E, while updating inputs for discount rate, revenue growth and profit margin. What’s in the News for Tata Steel Tata Steel received a Demand cum Show Cause Notice dated June 13, 2025 from the Office of the Commissioner of CGST and Central Excise, Jamshedpur, regarding alleged irregular Input Tax Credit of ₹8.91b for FY 2018-19 to FY 2020-21.
VEDL
₹257.45
Vedanta
7D
-4.3%
1Y
-43.5%
SAIL
₹175.01
Steel Authority of India
7D
-4.8%
1Y
31.4%
500188
₹573.50
Hindustan Zinc
7D
-3.4%
1Y
26.1%
Narrative Update • Aug 24

500188: Slowing Revenue And Margin Pressure Will Weigh On Future Earnings

Analysts have trimmed their price target on Hindustan Zinc from ₹520.00 to ₹480.00, reflecting lower revenue growth expectations, a slightly softer profit margin outlook and a reduced future P/E assumption in their models. What’s in the News for Hindustan Zinc Hindustan Zinc plans a leadership transition at the top.
532626
₹469.45
Pondy Oxides And Chemicals
7D
2.8%
1Y
-8.5%
500245
₹474.30
Kirloskar Ferrous Industries
7D
1.7%
1Y
-13.0%
VAML
₹404.30
Vedanta Aluminium Metal
7D
-7.5%
1Y
n/a
500228
₹1,256.80
JSW Steel
7D
-3.9%
1Y
12.1%