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Buzzing metal stocks: Hindalco jumps 38 per cent, Vedanta gains 20 per cent

Geyatee Deshpande
/ Categories: Mindshare, DSIJ News
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Buzzing metal stocks: Hindalco jumps 38 per cent, Vedanta gains 20 per cent

In the month of February 2021, the metal stocks have truly shined and attracted investors’ attention. BSE Metal index has jumped by more than 26 per cent in one month thereby, outperforming the domestic benchmark indices. Sensex gained by 10.31 per cent while Nifty rose by 10.7 per cent since the beginning of February.  

In the recent times, as investors remained bullish with the markets making fresh all time-highs, a shift in markets' attention was seen from the healthcare and IT stocks to metal & mining stocks. Generally, it is said that active traders often turn to metals and mining stock in order to gain a level of portfolio protection during periods of uncertainty and increased volatility.  

A rise in the prices of base metals also pushed up the metal stocks in recent weeks. As China returned from its New Year Holiday, hopes of a better demand outlook and improved manufacturing capabilities boosted investors’ confidence.  

Below is a list of the top performing metal stocks in February 2021:  

Company name  

Returns (per cent)  

Hindalco Industries Ltd 

38.1  

Jindal Steel & Power Ltd  

22.18  

Vedanta Ltd 

19.53  

Tata Steel Ltd  

14.7  

NMDC Ltd 

13.64  

Steel Authority of India Ltd  

12.58  

Coal India Ltd 

11.89  

National Aluminium Company Ltd 

11.57  

JSW Steel Ltd  

7.95  

Hindustan Zinc Ltd 

5.78  

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