Hindalco, Vedanta, JSW Steel on your buy list? Wait for a dip, say analysts

The run-up in the stock prices of metal companies, analysts said, has largely been driven by tighter supplies in the global markets, coupled with hopes of improving demand, especially in China

Stocks of metal companies have been buzzing at the bourses for quite some time now. The Nifty Metal index, the gauge of metal companies, has soared 40 per cent over the past six months, as against a 15.6-per cent surge in the Nifty50 index.

Individually, Hindustan Copper stock has soared 155.4 per cent, while stocks of Jindal Steel and Power, Hindustan Zinc, NMDC, Vedanta, Steel Authority of India (SAIL), and National Aluminium Company (Nalco) have rallied between 50 per cent and 93 per cent during the period.