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Indian (NIFTY) Metals and Mining Industry Analysis

UpdatedAug 02, 2026
DataAggregated Company Financials
Companies231
  • 7D2.6%
  • 3M-3.8%
  • 1Y20.3%
  • YTD-1.3%

In the last week, the Metals and Mining industry is up 2.6%, with Tata Steel up 3.9%. Meanwhile, Gravita India actually underperformed within the industry, shrinking 9.0% in the last week. In the last 12 months, the industry was up 20%. 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
Sun, 02 Aug 2026₹22.5t₹14.4t₹1.2t19.6x18.4x1.6x
Tue, 30 Jun 2026₹21.6t₹14.0t₹1.1t21.3x19.3x1.5x
Thu, 28 May 2026₹23.9t₹13.8t₹1.1t22.4x22x1.7x
Sat, 25 Apr 2026₹24.3t₹14.2t₹987.7b23.1x24.6x1.7x
Mon, 23 Mar 2026₹21.7t₹14.2t₹987.7b20.1x22x1.5x
Wed, 18 Feb 2026₹22.5t₹14.2t₹987.7b21.1x22.8x1.6x
Fri, 16 Jan 2026₹22.6t₹13.8t₹935.9b22.8x24.1x1.6x
Sun, 14 Dec 2025₹20.3t₹13.7t₹931.8b22x21.8x1.5x
Tue, 11 Nov 2025₹20.2t₹13.5t₹897.4b22.6x22.5x1.5x
Thu, 09 Oct 2025₹19.7t₹13.3t₹897.2b23.8x21.9x1.5x
Sat, 06 Sep 2025₹18.7t₹13.2t₹894.5b23.6x20.9x1.4x
Mon, 04 Aug 2025₹17.8t₹13.1t₹874.2b22.8x20.3x1.4x
Wed, 02 Jul 2025₹18.4t₹13.0t₹841.3b23.7x21.9x1.4x
Fri, 30 May 2025₹18.0t₹13.0t₹841.9b21.9x21.4x1.4x
Sun, 27 Apr 2025₹16.7t₹12.8t₹786.2b20.8x21.3x1.3x
Tue, 25 Mar 2025₹17.8t₹12.8t₹775.7b21.4x22.9x1.4x
Thu, 20 Feb 2025₹15.9t₹12.8t₹775.9b19.9x20.5x1.2x
Sat, 18 Jan 2025₹17.3t₹12.6t₹755.6b24.6x22.8x1.4x
Mon, 16 Dec 2024₹18.8t₹12.6t₹755.4b26.7x24.9x1.5x
Wed, 13 Nov 2024₹17.8t₹12.6t₹756.9b25.7x23.5x1.4x
Fri, 11 Oct 2024₹19.1t₹12.7t₹639.8b26.9x29.8x1.5x
Sun, 08 Sep 2024₹18.0t₹12.7t₹641.2b26.3x28.1x1.4x
Tue, 06 Aug 2024₹17.7t₹12.6t₹618.2b24.7x28.6x1.4x
Thu, 04 Jul 2024₹19.4t₹12.6t₹623.7b25.1x31.1x1.5x
Sat, 01 Jun 2024₹18.5t₹12.6t₹636.0b24.1x29.2x1.5x
Mon, 29 Apr 2024₹17.2t₹12.6t₹664.5b25.2x25.8x1.4x
Wed, 27 Mar 2024₹14.5t₹12.7t₹672.0b21.8x21.5x1.1x
Fri, 23 Feb 2024₹14.8t₹12.7t₹671.9b23.7x22x1.2x
Sun, 21 Jan 2024₹14.5t₹12.9t₹603.3b24.4x24.1x1.1x
Tue, 19 Dec 2023₹14.2t₹12.9t₹596.9b22.5x23.8x1.1x
Thu, 16 Nov 2023₹12.9t₹12.9t₹596.7b20.4x21.6x1x
Sat, 14 Oct 2023₹12.8t₹12.8t₹627.8b20.2x20.3x1x
Mon, 11 Sep 2023₹12.9t₹12.8t₹628.2b19.1x20.5x1x
Wed, 09 Aug 2023₹12.0t₹12.8t₹647.1b16.8x18.6x0.9x
Price to Earnings Ratio

18.6x


Total Market Cap: ₹12.0tTotal Earnings: ₹647.1bTotal Revenue: ₹12.8tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Metals and Mining Industry Price to Earnings3Y Average 23.2x202420252026
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 18.4x which is lower than its 3-year average PE of 23.2x.
  • The 3-year average PS ratio of 1.4x 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 24% per year over the last three years.
  • Revenues for these companies have grown 4.0% 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 Market2.00%
Materials1.48%
Metals and Mining2.60%
Steel3.09%
Aluminum2.88%
Gold1.75%
Copper1.73%
Diversified Metals and Mining0.58%
Industry PE
  • Investors are most optimistic about the Copper industry even though it's trading below its 3-year average PE ratio of 70.0x.
    • Analysts are expecting annual earnings growth of 33.8%, 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 34% 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 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₹189.803.9%
+₹88.6b		24.1%PE21.5x
500228 JSW Steel₹1.27k2.4%
+₹73.0b		23.7%PE12.5x
VAML Vedanta Aluminium Metal₹454.204.3%
+₹72.7b		n/aPE46.2x
500440 Hindalco Industries₹974.353.4%
+₹70.1b		44.9%PE16.2x
JINDALSTEL Jindal Steel₹1.10k6.4%
+₹67.9b		16.6%PE41.4x

Latest News

JINDALSTEL
₹1,102.40
Jindal Steel
7D
6.4%
1Y
16.6%
VAML
₹454.20
Vedanta Aluminium Metal
7D
4.3%
1Y
n/a
500470
₹189.80
Tata Steel
7D
3.9%
1Y
24.1%
VEDL
₹264.25
Vedanta
7D
-0.2%
1Y
-37.7%
520111
₹2,362.70
Ratnamani Metals & Tubes
7D
-1.5%
1Y
-8.5%
SAIL
₹169.03
Steel Authority of India
7D
4.7%
1Y
40.7%
Narrative Update • Jul 29

SAIL: Richer P E Will Depend On Sustained Margin Execution

Analysts have raised their fair value estimate for Steel Authority of India to ₹135 from ₹125, citing updated assumptions that include a slightly higher discount rate, a lower revenue growth outlook, modestly stronger profit margin expectations, and a higher future P/E multiple. Analyst Commentary on Steel Authority of India Analysts covering Steel Authority of India highlight that the revised fair value estimate to ₹135 still embeds a mix of opportunities and risks.
500228
₹1,270.55
JSW Steel
7D
2.4%
1Y
23.7%
500188
₹539.35
Hindustan Zinc
7D
1.4%
1Y
29.8%
Narrative Update • Jul 27

500188: Leadership Transitions And Higher Revenue Assumptions Will Support Future Upside

Analysts have lifted their fair value estimate for Hindustan Zinc, raising the price target from ₹730 to ₹770, citing updated assumptions around revenue growth, profit margins and a slightly lower projected future P/E multiple. What’s in the News for Hindustan Zinc The board appointed Amarendu Prakash as Chief Executive Officer of Hindustan Zinc, effective August 1, 2026, following his prior leadership roles within India’s steel sector.
BANSALWIRE
₹314.65
Bansal Wire Industries
7D
-2.9%
1Y
-19.5%
Analysis Article • Jul 25

Bansal Wire Industries Limited Beat Revenue Forecasts By 12%: Here's What Analysts Are Forecasting Next

Investors in Bansal Wire Industries Limited ( NSE:BANSALWIRE ) had a good week, as its shares rose 3.3% to close at...
533758
₹1,818.80
APL Apollo Tubes
7D
-0.4%
1Y
14.3%
500440
₹974.35
Hindalco Industries
7D
3.4%
1Y
44.9%
Narrative Update • Jul 23

500440: New North India Capacity Expansion Will Support Stronger Future Profitability

Analysts have lifted their 12 month price target for Hindalco Industries from ₹1,070 to about ₹1,342, citing updated assumptions for higher revenue, improved profit margins and a lower future P/E multiple in their models. What’s in the News for Hindalco Industries Hindalco Industries has scheduled a board meeting on August 7, 2026 to consider and approve the unaudited standalone and consolidated financial results for the quarter ended June 30, 2026.
BHARATCOAL
₹33.97
Bharat Coking Coal
7D
-2.9%
1Y
n/a
512455
₹2,043.40
Lloyds Metals and Energy
7D
5.4%
1Y
41.3%
Narrative Update • Jul 21

512455: Future Debt Raise Will Support Bullish Outlook On Earnings Potential

Analysts have adjusted the price target for Lloyds Metals and Energy to ₹2,200 from ₹2,100, reflecting updated assumptions on revenue growth, profit margins and forward P/E expectations in their valuation work. What's in the News Lloyds Metals and Energy held its 49th Annual General Meeting on June 19, 2026, where shareholders approved an alteration to the Articles of Association by deleting the Common Seal clause (Key Developments).
GRAVITA
₹1,616.40
Gravita India
7D
-9.0%
1Y
-9.7%
542669
₹47.83
BMW Industries
7D
-13.3%
1Y
-0.3%
JAIBALAJI
₹57.71
Jai Balaji Industries
7D
-5.8%
1Y
-47.9%