Shares of metal firms such as NALCO, Vedanta and Hindustan Zinc are on investors' radar amid the ongoing earnings season. The BSE metal index is trading near its all time high of 42,791, thanks to a rise in demand from the infrastructure and EV sectors, supply-deficit fears due to tensions in the Middle East and a recovery in commodity prices. The three metal stocks have been in an upward trajectory recently. Hindustan Zinc and Vedanta shares are up 14% each in a month and NALCO shares have risen 17% during the period.
NALCO outlook and price targets
National Aluminium Company Ltd (NALCO) shares are trading near their 52 week highs of Rs 439.95 reached on April 17, 2026. The metal stock rose 1.10% to Rs 427.50 in early deals today despite a correction in the broader market. Market cap of the firm stood at Rs 78,414 crore. Brokerage Systematix Institutional Equities has a buy call on the NALCO stock with a price target of Rs 436.
The brokerage says higher aluminium prices and lower alumina prices are expected to drive aluminium segment margin expansion for the firm. Volume growth from optimum capacity utilisation will drive topline growth in Q4 of the last fiscal.
Alumina refinery and bauxite mine commissioning timelines and volume guidance for FY27 are key things to track during the Q4 earnings of the aluminium major, according to the brokerage.
HSBC has a buy call on the stock with a price target of Rs 455.
Vedanta outlook and price targets
Shares of Vedanta, which are creating buzz on demerger news, are trading near their 52-week high of Rs 794.90 reached on April 21. The stock was trading on a flat note at Rs 769.90 in the current session. Market cap of the firm stood at Rs 3.01 lakh crore.
Brokerage Systematix has a buy call on the Vedanta stock with a price target of Rs 898.
In Q4, commodity prices, volumes, and lower RM cost will drive
growth for the metal major which is likely to outperform peers.
Master Capital Services has a price target of Rs 810 to Rs 830 on the Vedanta stock.
Hindustan Zinc outlook and price targets
The Vedanta's subsidiary stock was trading at Rs 590.70 in early morning deals today. Market cap of the firm stood at Rs 2.49 lakh crore. Brokerage Systematix has a buy call on the stock with a price target of Rs 755.
Silver prices will be the key earnings driver for the March 2026 quarter. Key things to monitor during earnings are project updates and FY27 guidance.
Brokerage HSBC has a buy call on the stock with a target price of Rs 720.
Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
Published on: Apr 22, 2026 10:23 AM IST
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