Tata Steel rides metal rally to become second biggest firm in group

It accounts for 9.2% of group m-cap, highest in a decade

After a two-month lull, industrial metal and mining companies are again leading the rally on the bourses. The S&P BSE Metal index, which tracks the market capitalisation of the country’s top 10 metals and mining companies, rose 5.5 per cent on Thursday, beating the benchmark Sensex, which was up 0.4 per cent.

With this, the metal index has risen 10 per cent in the last five trading sessions, compared with a 0.3 per cent decline in the Sensex. The performance of metal stocks has been impressive since the outbreak of Covid-19. The BSE Metal index has jumped 272 per cent since