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Indian (NIFTY) Metals and Mining Industry Analysis

UpdatedJul 22, 2026
DataAggregated Company Financials
Companies229
  • 7D-0.08%
  • 3M-12.6%
  • 1Y14.5%
  • YTD-2.5%

The Metals and Mining is pretty flat in the last 7 days, but Lloyds Metals and Energy has stood out, gaining 6.1%. As for the the longer term, the industry is up 15% over the past 12 months. Looking forward, earnings are forecast to grow by 16% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 22 Jul 2026₹21.6t₹14.1t₹1.1t21.2x18.9x1.5x
Fri, 19 Jun 2026₹24.4t₹14.0t₹1.1t21.8x21.8x1.7x
Sun, 17 May 2026₹23.3t₹13.7t₹1.1t22.2x20.9x1.7x
Tue, 14 Apr 2026₹23.4t₹14.2t₹988.1b21.7x23.7x1.6x
Thu, 12 Mar 2026₹22.5t₹14.2t₹987.7b20.7x22.8x1.6x
Sat, 07 Feb 2026₹22.8t₹14.0t₹979.8b22x23.3x1.6x
Mon, 05 Jan 2026₹22.2t₹13.7t₹929.8b23.6x23.9x1.6x
Wed, 03 Dec 2025₹19.9t₹13.7t₹931.8b22.2x21.3x1.5x
Fri, 31 Oct 2025₹20.5t₹13.4t₹911.5b23.3x22.5x1.5x
Sun, 28 Sep 2025₹19.0t₹13.2t₹894.7b22.9x21.2x1.4x
Tue, 26 Aug 2025₹18.4t₹13.2t₹895.5b23.7x20.5x1.4x
Thu, 24 Jul 2025₹18.5t₹13.0t₹856.7b23.4x21.6x1.4x
Sat, 21 Jun 2025₹17.6t₹13.0t₹841.2b22.2x21x1.4x
Mon, 19 May 2025₹17.7t₹12.9t₹800.0b22.2x22.1x1.4x
Wed, 16 Apr 2025₹16.5t₹12.8t₹775.7b20.4x21.2x1.3x
Fri, 14 Mar 2025₹16.7t₹12.8t₹775.7b19.7x21.6x1.3x
Sun, 09 Feb 2025₹17.0t₹12.7t₹754.7b23.2x22.5x1.3x
Tue, 07 Jan 2025₹17.3t₹12.7t₹757.9b25.3x22.8x1.4x
Thu, 05 Dec 2024₹18.4t₹12.6t₹755.5b26.7x24.4x1.5x
Sat, 02 Nov 2024₹18.4t₹12.7t₹617.4b25.6x29.8x1.5x
Mon, 30 Sep 2024₹19.4t₹12.6t₹637.6b27.6x30.5x1.5x
Wed, 28 Aug 2024₹18.5t₹12.7t₹641.2b26.4x28.9x1.5x
Fri, 26 Jul 2024₹18.2t₹12.7t₹606.7b25.5x30x1.4x
Sun, 23 Jun 2024₹19.3t₹12.6t₹623.0b25.8x31x1.5x
Tue, 21 May 2024₹18.6t₹12.6t₹644.1b24.4x28.8x1.5x
Thu, 18 Apr 2024₹16.3t₹12.7t₹671.8b24.1x24.2x1.3x
Sat, 16 Mar 2024₹13.9t₹12.7t₹672.0b21.5x20.6x1.1x
Mon, 12 Feb 2024₹14.8t₹12.6t₹653.8b23.9x22.6x1.2x
Wed, 10 Jan 2024₹14.5t₹12.9t₹597.0b22.8x24.3x1.1x
Fri, 08 Dec 2023₹13.6t₹12.9t₹596.9b21.7x22.8x1.1x
Sun, 05 Nov 2023₹12.3t₹12.8t₹605.0b19.3x20.3x1x
Tue, 03 Oct 2023₹12.6t₹12.8t₹628.5b18.7x20.1x1x
Thu, 31 Aug 2023₹12.3t₹12.8t₹628.0b17.6x19.5x1x
Sat, 29 Jul 2023₹12.1t₹12.8t₹642.9b15.9x18.8x0.9x
Price to Earnings Ratio

18.8x


Total Market Cap: ₹12.1tTotal Earnings: ₹642.9bTotal 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 18.9x 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 1.5x.
Past Earnings Growth
  • The earnings for companies in the Metals and Mining industry have grown 21% per year over the last three years.
  • Revenues for these companies have grown 3.3% 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 Market0.77%
Materials1.80%
Metals and Mining-0.078%
Steel0.48%
Diversified Metals and Mining0.28%
Copper0.082%
Aluminum-3.20%
Gold-4.89%
Industry PE
  • Investors are most optimistic about the Copper industry even though it's trading below its 3-year average PE ratio of 69.9x.
    • 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 15% 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
500228 JSW Steel₹1.27k3.3%
+₹98.0b		22.6%PE12.5x
500188 Hindustan Zinc₹535.501.5%
+₹34.2b		19.8%PE16.4x
500470 Tata Steel₹186.500.7%
+₹15.6b		14.6%PE21.6x
JSL Jindal Stainless₹738.402.0%
+₹11.7b		9.3%PE19x
VEDL Vedanta₹262.300.7%
+₹6.8b		-42.4%PE21.4x

Latest News

GALLANTT
₹562.30
Gallantt Ispat
7D
-18.4%
1Y
-10.8%
JINDALSAW
₹265.15
Jindal Saw
7D
3.8%
1Y
16.8%
500188
₹535.50
Hindustan Zinc
7D
1.5%
1Y
19.8%
SAIL
₹161.98
Steel Authority of India
7D
-1.6%
1Y
20.2%
526371
₹83.35
NMDC
7D
-1.8%
1Y
14.1%
Narrative Update • Jul 20

526371: Dividend Prospects And Revised Assumptions Will Support Future Upside Potential

Analysts have adjusted their fair value estimate for NMDC to ₹112 from ₹106, reflecting updated assumptions on the discount rate, revenue growth, profit margin, and future P/E multiples. What's in the News NMDC has scheduled a board meeting on May 29, 2026, to consider and approve audited standalone and consolidated financial results for the quarter and financial year ended March 31, 2026.
532144
₹1,611.45
Welspun
7D
-3.9%
1Y
75.5%
Narrative Update • Jul 20

532144: Order Book And FY27 Guidance Will Support Measured Earnings Visibility

Analysts have raised their price target on Welspun from ₹1,536.67 to ₹1,608.33, citing updated assumptions on fair value, discount rate, revenue growth, profit margin and future P/E as the basis for the change. What’s in the News for Welspun Welspun Corp has scheduled a board meeting on May 21, 2026, to review standalone and consolidated audited financial results for the quarter and year ended March 31, 2026; consider a final dividend on equity shares; evaluate the sale of its equity stake in Clean Max Dhyuthi Private Limited; and review completion of earlier announced expansion and capability enhancement projects.
500470
₹186.50
Tata Steel
7D
0.7%
1Y
14.6%
NATIONALUM
₹342.40
National Aluminium
7D
-5.3%
1Y
72.9%
Narrative Update • Jul 17

NATIONALUM: Captive Power Joint Venture Will Support Expansion And Strengthen Future Outlook

Analysts have raised the National Aluminium price target from ₹420 to ₹480, citing updated assumptions around revenue growth, profit margin, and future P/E, along with a revised discount rate in their valuation work. What’s in the News for National Aluminium National Aluminium Company Limited signed a Joint Venture Agreement with NLC India Limited on July 8, 2026, to set up a 4×270 MW (1,080 MW) thermal captive power plant at Angul, Odisha, on a 50:50 equity basis.
VEDL
₹262.30
Vedanta
7D
0.7%
1Y
-42.4%
Narrative Update • Jul 15

VEDL: Future Margins And Demerger Steps Will Shape A Balanced Outlook

Vedanta's analyst price target has been revised from about ₹480 to about ₹265, with analysts pointing to updated assumptions for revenue growth, profit margins and a higher future P/E multiple as key drivers of the change. What's in the News for Vedanta Vedanta approved the appointment of M/s S R B C & Co. LLP as Statutory Auditors, effective July 1, 2026, filling a vacancy created by the resignation of the previous auditors.
500440
₹950.05
Hindalco Industries
7D
-0.6%
1Y
36.7%
Narrative Update • Jul 09

500440: Future Expansion In North India Will Shape Balanced Earnings Outlook

Analysts have raised their price target for Hindalco Industries from ₹695 to about ₹883.80. They cite updated assumptions for fair value, discount rate, revenue growth, profit margins, and future P/E as the key drivers behind the change.
500228
₹1,266.70
JSW Steel
7D
3.3%
1Y
22.6%
Narrative Update • Jul 07

500228: Greenfield Odisha Expansion Will Support Future Margin And Output Upside

Analysts have raised their price target on JSW Steel from ₹1,525 to about ₹1,630, citing updated assumptions for fair value, discount rate, revenue growth, profit margin and future P/E as the key drivers of the change. What’s in the News for JSW Steel JSW Steel has scheduled a board meeting on Jul 17, 2026 to consider the unaudited standalone and consolidated financial results for the quarter ended Jun 30, 2026.
512455
₹1,870.85
Lloyds Metals and Energy
7D
0.3%
1Y
22.6%
Narrative Update • Jul 07

512455: Higher P/E Assumptions And Fundraising Plans Will Shape Balanced Outlook

Analysts have lifted their fair value estimate for Lloyds Metals and Energy from ₹1,410 to about ₹1,764, reflecting updated assumptions around discount rate, revenue growth, profit margin and future P/E that feed into their price target work. What’s in the News for Lloyds Metals and Energy 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.
JSL
₹738.40
Jindal Stainless
7D
2.0%
1Y
9.3%
Narrative Update • Jun 13

JSL: Renewable Power Expansion Will Support Future Margin Resilience

Analysts have maintained their fair value estimate for Jindal Stainless at ₹869.93 per share, with updated assumptions around discount rate, revenue growth, profit margin and future P/E now reflected in the price target rationale. What's in the News The Board of Directors has recommended a final dividend of ₹3 per share for FY26, taking the total dividend to ₹4 per share, equal to 200% on an equity share with a face value of ₹2, subject to shareholder approval.
539006
₹17,802.35
PTC Industries
7D
1.1%
1Y
23.8%
KIOCL
₹357.10
KIOCL
7D
-5.7%
1Y
-0.5%