Nifty Metal Index Rises 3% As Vedanta, SAIL, Nalco Gain Up To 5%

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Last Updated: 26th February 2026 - 01:13 pm

Summary:

The Nifty Metal index rose 3% in intraday trade on Wednesday, with shares of Vedanta, Lloyds Metals and Energy, Nalco, and SAIL gaining up to 5% on the National Stock Exchange, according to exchange data and Reuters.

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The Nifty Metal index climbed 3% during intraday trade on Wednesday, emerging as the top sectoral gainer on the National Stock Exchange. At 10:49 AM, the index was up 2.6%, compared with a 0.75% rise in the Nifty 50, as per NSE data.

Shares of Vedanta rose 5% to ₹732.35. Lloyds Metals and Energy, Steel Authority of India, and National Aluminium Company gained between 3% and 5% in intraday trade. Tata Steel advanced 3% to ₹216.35, while JSW Steel and Jindal Steel and Power rose about 2% each, with all three hitting record highs during the session, according to exchange data.

Vedanta Upgrade And Fundraising

Vedanta’s stock moved higher after global brokerage BoFA Securities upgraded the company to “Buy” from “Neutral” and raised its target price to ₹840 from ₹480, Reuters reported. The revised target implies a 75% increase from the earlier estimate.

Separately, Vedanta informed exchanges that its Committee of Directors approved the issuance of non-convertible debentures worth up to ₹3,000 crore on a private placement basis.

Sector Performance In Q3FY26

For the October–December 2025 quarter, non-ferrous metal companies reported earnings growth supported by higher commodity prices and stable volumes, according to a report by Systematix Institutional Equities cited by Reuters. The brokerage said Ebitda margins expanded by 63 basis points year-on-year and 116 basis points quarter-on-quarter.

Nomura initiated coverage on Lloyds Metals and Energy with a “Buy” rating and set a target price of ₹1,600, according to Reuters.

With the Nifty Metal index up 3% and multiple metal stocks touching record highs on Wednesday, sectoral gains tracked stock-specific developments and brokerage actions during the session, as reflected in NSE trading data.

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