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Indian (NIFTY) Metals and Mining Industry Analysis

UpdatedAug 14, 2026
DataAggregated Company Financials
Companies231
  • 7D-1.2%
  • 3M-4.3%
  • 1Y22.5%
  • YTD1.2%

Over the last 7 days, the Metals and Mining industry has dropped 1.2%, driven by Hindustan Zinc declining 6.5%. On the other hand APL Apollo Tubes is actually up 6.6%. Over the past 12 months, the industry was up 22%. As for the next few years, earnings are expected to grow by 14% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 14 Aug 2026₹23.1t₹14.8t₹1.3t19.7x18.1x1.6x
Sun, 12 Jul 2026₹21.7t₹14.0t₹1.1t21.2x19.4x1.5x
Tue, 09 Jun 2026₹22.2t₹13.9t₹1.1t20.8x20x1.6x
Thu, 07 May 2026₹23.3t₹13.5t₹942.8b23.3x24.7x1.7x
Sat, 04 Apr 2026₹21.8t₹14.2t₹988.1b20.4x22x1.5x
Mon, 02 Mar 2026₹23.2t₹14.2t₹987.7b21x23.5x1.6x
Wed, 28 Jan 2026₹23.0t₹13.9t₹963.2b21.4x23.8x1.7x
Fri, 26 Dec 2025₹21.0t₹13.7t₹929.8b22.8x22.6x1.5x
Sun, 23 Nov 2025₹19.4t₹13.7t₹931.9b22.3x20.8x1.4x
Tue, 21 Oct 2025₹19.7t₹13.3t₹910.5b23.3x21.7x1.5x
Thu, 18 Sep 2025₹19.2t₹13.2t₹894.5b23.4x21.5x1.5x
Sat, 16 Aug 2025₹17.9t₹13.2t₹896.1b23x20x1.4x
Mon, 14 Jul 2025₹18.1t₹13.0t₹842.2b23x21.5x1.4x
Wed, 11 Jun 2025₹18.5t₹13.0t₹841.1b23.1x22.1x1.4x
Fri, 09 May 2025₹16.2t₹12.9t₹793.3b20.1x20.4x1.3x
Sun, 06 Apr 2025₹16.4t₹12.8t₹775.7b20.3x21.1x1.3x
Tue, 04 Mar 2025₹15.7t₹12.8t₹775.7b19.5x20.3x1.2x
Thu, 30 Jan 2025₹16.6t₹12.6t₹745.2b22.6x22.3x1.3x
Sat, 28 Dec 2024₹17.6t₹12.7t₹757.9b25.8x23.2x1.4x
Mon, 25 Nov 2024₹17.6t₹12.6t₹755.5b24.2x23.3x1.4x
Wed, 23 Oct 2024₹18.1t₹12.7t₹643.8b26x28.1x1.4x
Fri, 20 Sep 2024₹18.2t₹12.7t₹639.3b26.3x28.4x1.4x
Sun, 18 Aug 2024₹17.6t₹12.7t₹640.3b24.6x27.5x1.4x
Tue, 16 Jul 2024₹19.1t₹12.6t₹624.6b25x30.6x1.5x
Thu, 13 Jun 2024₹18.9t₹12.6t₹621.0b25.3x30.5x1.5x
Sat, 11 May 2024₹17.2t₹12.6t₹667.0b23.6x25.7x1.4x
Mon, 08 Apr 2024₹15.7t₹12.7t₹671.9b24.3x23.4x1.2x
Wed, 06 Mar 2024₹15.0t₹12.7t₹672.0b23.2x22.3x1.2x
Fri, 02 Feb 2024₹14.8t₹12.9t₹664.5b24.4x22.3x1.1x
Sun, 31 Dec 2023₹14.7t₹12.9t₹597.0b22.4x24.6x1.1x
Tue, 28 Nov 2023₹13.1t₹12.9t₹596.3b20.8x21.9x1x
Thu, 26 Oct 2023₹12.2t₹12.8t₹661.9b18.8x18.4x0.9x
Sat, 23 Sep 2023₹12.5t₹12.8t₹628.5b18.5x19.9x1x
Mon, 21 Aug 2023₹11.9t₹12.8t₹629.9b16.6x18.8x0.9x
Price to Earnings Ratio

18.8x


Total Market Cap: ₹11.9tTotal Earnings: ₹629.9bTotal 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 18.1x 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 26% per year over the last three years.
  • Revenues for these companies have grown 5.0% 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 Market-0.13%
Materials-0.71%
Metals and Mining-1.19%
Aluminum2.42%
Gold-0.31%
Copper-0.42%
Steel-1.67%
Diversified Metals and Mining-2.24%
Industry PE
  • Investors are most optimistic about the Copper industry even though it's trading below its 3-year average PE ratio of 70.1x.
    • Analysts are expecting annual earnings growth of 28.3%, which is higher than its past year's earnings growth of 4.9% per year.
Forecasted Growth
  • Analysts are most optimistic on the Copper industry, expecting annual earnings growth of 28% over the next 5 years.
  • This is better than its past earnings growth rate of 4.9% per year.
  • In contrast, the Diversified Metals and Mining industry is expected to see its earnings grow by 8.2% 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
533758 APL Apollo Tubes₹2.09k6.6%
+₹36.1b		30.1%PE47.3x
504614 Sarda Energy & Minerals₹530.706.6%
+₹11.6b		-4.2%PE16.6x
520111 Ratnamani Metals & Tubes₹2.35k6.7%
+₹10.3b		0.4%PE38x
532144 Welspun₹1.87k1.8%
+₹8.8b		112.7%PE21.4x
513097 Shivalik Bimetal Controls₹1.04k13.0%
+₹6.9b		98.2%PE56.5x

Latest News

JAIBALAJI
₹70.60
Jai Balaji Industries
7D
7.6%
1Y
-30.4%
513097
₹1,040.20
Shivalik Bimetal Controls
7D
13.0%
1Y
98.2%
VEDL
₹267.50
Vedanta
7D
-4.1%
1Y
-37.8%
Narrative Update • Aug 12

VEDL: Weaker Revenue And Margins Will Drive A Cautious Forward View

Analysts have trimmed their price target on Vedanta from ₹265 to about ₹246.58, reflecting updated assumptions around revenue growth, profit margins and future P/E that point to a slightly more conservative outlook on the stock's valuation. What's in the News for Vedanta Vedanta has scheduled a Board meeting on July 30, 2026 at 14:30 Indian Standard Time to review unaudited consolidated and standalone financial results for the first quarter ended June 30, 2026, and to consider changes in directors and senior management, the implementation of VEDL ESOP 2026 and VEDL ESPP 2026, and related matters.
512455
₹1,918.15
Lloyds Metals and Energy
7D
-8.7%
1Y
37.2%
Narrative Update • Aug 12

512455: Board Decisions On Subsidiary Restructuring Will Support Future Upside

The analyst price target for Lloyds Metals and Energy has been revised from ₹2,008.33 to ₹2,102.86, with analysts pointing to updates in their fair value estimate, discount rate, revenue growth expectations, profit margin outlook, and future P/E assumptions as the key drivers of this change. What's in the News for Lloyds Metals and Energy Lloyds Metals and Energy has scheduled a board meeting on August 10, 2026, at 15:27 Indian Standard Time to consider and approve unaudited standalone and consolidated financial results for the quarter ended June 30, 2026.
500188
₹561.90
Hindustan Zinc
7D
-6.5%
1Y
31.7%
Narrative Update • Aug 10

500188: Leadership Changes And Low Carbon Zinc Alliances Will Support Measured Upside

Analysts have trimmed their price target for Hindustan Zinc from ₹652 to about ₹637. This reflects updated views on fair value that factor in revised assumptions for growth, margins, and future P/E multiples.
520111
₹2,349.45
Ratnamani Metals & Tubes
7D
6.7%
1Y
0.4%
500440
₹1,034.30
Hindalco Industries
7D
-1.9%
1Y
48.8%
Narrative Update • Aug 08

500440: North India Expansion Will Face Margin Pressures And Tepid Earnings Potential

Analysts have lifted their price target for Hindalco Industries from about ₹883.80 to roughly ₹907.04, citing updated assumptions for fair value, discount rate, revenue growth, profit margins and future P/E as the key drivers of this change. 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.
504614
₹530.70
Sarda Energy & Minerals
7D
6.6%
1Y
-4.2%
VISL
₹36.87
Vedanta Iron and Steel
7D
4.7%
1Y
n/a
533758
₹2,094.00
APL Apollo Tubes
7D
6.6%
1Y
30.1%
Narrative Update • Aug 04

533758: Upcoming Subsidiary Exit Will Shape Future Upside Potential

The analyst price target for APL Apollo Tubes has been revised from ₹2,638 to about ₹2,727 as analysts factor in updated assumptions around revenue growth, profit margin and future P/E levels. What’s in the News for APL Apollo Tubes APL Apollo Tubes has scheduled a board meeting on Jun 27, 2026, at 11:49 Indian Standard Time to consider a proposal to disinvest the company’s entire shareholding in Blue Ocean Projects Private Limited.
500470
₹183.40
Tata Steel
7D
-2.4%
1Y
18.1%
Narrative Update • Aug 03

500470: NINL Capacity Expansion And Dividends Will Support Future Upside

The analyst price target for Tata Steel has been revised from about ₹225 to about ₹220. Analysts link this change to updated assumptions that include a slightly higher discount rate, modestly adjusted revenue growth and profit margin expectations, and a lower future P/E multiple.
VAML
₹443.80
Vedanta Aluminium Metal
7D
-5.6%
1Y
n/a
532144
₹1,872.90
Welspun
7D
1.8%
1Y
112.7%
Narrative Update • Aug 03

532144: Record Order Book And Margin Assumptions Will Support Balanced Medium Term Outlook

Analysts have lifted their price target for Welspun from ₹1,458 to ₹1,794, citing updated assumptions that include a revised P/E multiple, as well as tweaks to revenue growth, profit margin and discount rate inputs in their valuation models. What’s in the News for Welspun Welspun Corp.
SAIL
₹169.51
Steel Authority of India
7D
-4.0%
1Y
40.8%
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
₹1,267.00
JSW Steel
7D
-2.0%
1Y
21.2%
GRAVITA
₹1,794.30
Gravita India
7D
3.6%
1Y
0.5%