Not Tata Steel, NMDC Or Hindalco, This Nifty Metal Stock Delivered The Best Returns In The Past Year
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The Nifty Metal index has seen a fairly decent run in the bourses in the past year. The index, which features giants like Tata Steel, Adani Enterprises and Vedanta among others, yielded more than 40% in returns.

Tata Steel has an 18.88% weightage in the index, closely followed by Hindalco Industries and JSW Steel. Benzinga India collated the returns of all the companies in the index within the past year and ranked them in order of the best to worst performing in terms of percentage returns.

Anil Agarwal-owned Vedanta was the best-performing stock which provided the highest return on investment of 130%. The stock has risen by over 95% in the year so far.

Vedanta’s shares rebounded on Thursday from an early dip after the company said that its board of directors would meet on October 8 to consider the approval of a fourth interim dividend this financial year.

Hindustan Copper stood in second place with a return of 114%. Year to date, the company’s shares have rallied 27%. National Aluminium Corporation was the third-best-performing stock, with a return of 110% in the past year, gaining over 49% In the year so far.

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Jindal Stainless yielded a return of 71.3% in the past year and 35.5% since the beginning of this year. The stock is currently trading at a price-to-earnings ratio of 92.2.

Hindustan Zinc has soared 64.4% in the last year and 62% so far this year alone. In August, the company’s stock declined after promoter Vedanta announced a sale of up to 11 crore equity shares, representing 2.60% of the company.

NMDC’s one-year return stood at 58.5%. The LIC-backed midcap-stock rallied this week after China announced stimulus for its struggling economy. The Chinese economic slowdown reduced demand for metals, causing steel producers to export at lower prices globally, which in turn hurt the performance of Indian steel companies.

Hindalco Industries, the stock with the third-largest weightage on the index, clocked a return of just 51.3%. The company’s shares have risen more than 20% in the year so far.

Jindal Steel and Power was among the stocks that returned less than 50% to investors, going up 47.4% in the past year. Steel Authority of India closely followed, with its stocks rising by a little over 44%.

Tata Steel, JSW Steel and Adani Enterprises were the worst-performing stocks on the index, yielding a return of a little over 25% each. Tata Steel has seen its shares grow 18% in the year so far, whereas JSW Steel has climbed 14%. Adani Enterprises’ shares went up by a mere 6.75% so far this year.

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Posted In: EquitiesNewsMarketsAdani EnterpriseAnil AgarwalHindustan CopperJSW SteelNMDCTata SteelVedanta