--- title: "Metal stocks up 22% from Mar lows; Analyst sees up to 18% upside in these 3" type: "News" locale: "en" url: "https://longbridge.com/en/news/281839259.md" description: "Metals and mining stocks have surged up to 22% from March 2026 lows, with Lloyds Metals & Energy and National Aluminium leading gains. The Nifty Metal index rose 8%, while the Nifty 50 increased by 2%. Analysts predict further upside, with Jindal Steel, National Aluminium, and NMDC expected to rise up to 18%. The ferrous sector is anticipated to outperform in Q4 due to rising steel prices and strong infrastructure spending in India. Ongoing disruptions in the Middle East have also affected global aluminium supply, contributing to price increases." datetime: "2026-04-06T22:48:00.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/281839259.md) - [en](https://longbridge.com/en/news/281839259.md) - [zh-HK](https://longbridge.com/zh-HK/news/281839259.md) --- # Metal stocks up 22% from Mar lows; Analyst sees up to 18% upside in these 3 Metals and mining related stocks have rallied up to 22 per cent from their respective March 2026 lows in the last 9 trading sessions. Lloyds Metals & Energy and National Aluminium up 22 per cent and 19 per cent, respectively, were the top gainers in the recent pullback. Among others, Welspun Corp, Hindalco Industries, Hindustan Copper, Vedanta, Steel Authority of India (SAIL) and Hindustan Zinc advanced in the range of 10-15 per cent, shows NSE data. The Nifty Metal index surged 8 per cent, while the Nifty 50 roe 2 per cent in the same period. On Tuesday, the Nifty Metal index was among the top gainers, up 1.3 per cent with Vedanta and Hindalco as top movers. Domestic brokerage firm Anand Rathi believes the ferrous sector will outperform in the Q4 earnings preview amid a rebound in steel prices. "India remains at the center of the global ferrous growth story, underpinned by strong infrastructure spending, continued urbanization, and manufacturing-led expansion. Domestic spot HRC prices have increased by ~30 per cent since Dec 2025 to ~₹59,500/tonne, while spot primary rebar prices have risen by ~29.5 per cent to ~₹60,000/tonne over the same period," highlighted the report. Among the pack, Anand Rathi prefers Lloyds SME, Tata Steel and Indian Metals and Ferro Alloys. A similar uptrend was observed in the aluminium sector since Mar 2026. On-going disruptions in the Middle East have impacted ~9 per cent of global aluminium supply, leading to a price increase of ~$430/tonne since end-Feb 2026, the report added. Ajit Mishra, SVP Research at Religare Broking reckons that metal stocks have outperformed, with select stocks trading near 52-week highs, with charts indicating a likely continuation in the trend. The analyst expects Jindal Steel, National Aluminium and NMDC shares to rally up to 18 per cent from current levels. Here's a detailed technical outlook on these 3 metal stocks. ### Jindal Steel Current Market Price: ₹1,148 Ajit Mishra expects Jindal Steel to rally to ₹1,320 - ₹1,350 levels amid the current momentum. He reckons traders can use ₹1,050 as a stop for existing positions at the counter. This translates into an upside potential of 17.6 per cent. ### National Aluminium (Nalco) Current Market Price: ₹414 National Aluminium seems to be forming a higher base around ₹383 - ₹385 levels, which can be used as a stop for now, says Mishra. On the upside, the stock can potentially jump to ₹445 levels. ### NMDC Current Market Price: ₹81.30 NMDC can be bought with a stop of ₹74, for a positional target of ₹92, suggesting upside potential of around 13 per cent from current levels, says the analyst. **Disclaimer: The views expressed by the brokerage/ analyst in this article are their own and not those of the website or its management. Business Standard advises users to check with certified experts before taking any investment decisions.** **Disclosure: Religare Broking has recommended NMDC stock to its clients in April 2026.** ### Related Stocks - [FMTL.US](https://longbridge.com/en/quote/FMTL.US.md) - [IND.US](https://longbridge.com/en/quote/IND.US.md) - [NDIA.AU](https://longbridge.com/en/quote/NDIA.AU.md) - [NFTY.US](https://longbridge.com/en/quote/NFTY.US.md) - [ALUM.UK](https://longbridge.com/en/quote/ALUM.UK.md) ## Related News & Research - [India proposes interim cash settlement to boost liquidity in agri derivatives](https://longbridge.com/en/news/286101833.md) - [Golden Sky Minerals Consolidates Full Ownership of Rayfield Ground within Rayfield-Gjoll Project | LCKYF Stock News](https://longbridge.com/en/news/286937838.md) - [Canuc Engages Verum Mining Consultants for East Sudbury Project (ESP) | CNUCF Stock News](https://longbridge.com/en/news/287071331.md) - [Is Wall Street Bullish or Bearish on Steel Dynamics Stock?](https://longbridge.com/en/news/287096852.md) - [Here's How Much $100 Invested In Steel Dynamics 5 Years Ago Would Be Worth Today](https://longbridge.com/en/news/287126888.md)