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Informist, Friday, Sept. 19, 2025

NEW DELHI – Stocks of metal companies are expected to trade higher next week, with the Nifty metal index seen initially rising towards 10070 points before advancing further to 10320 points. Meanwhile, support for the index is seen at 9780 points. "I am bullish on markets, so metal index will also do well, though intermittent corrections cannot be ruled out as there has been some rebound in the dollar index," an analyst tracking the sector at a domestic brokerage said.

On Friday, the Nifty Metal index closed in positive territory at 9989.90 points, even as nine of the 15 index constituents closed the day in the red. The index has gained 1.1% over the week and just over 9% so far during the month.

Domestic demand for metals is expected to improve in the coming weeks as construction picks up post the monsoon. Further, goods and services tax reduction on automobiles and appliances from next week, coupled with festival demand, is expected to bode well for the sector.

In a report on Monday, Emkay Global Financial Services said aluminum prices have risen in recent weeks and globally, aluminium's primary supply-demand balance remains tight with capacity utilisation at 98%. This is set to benefit Hindalco Industries as the company derives around half of its earnings before interest, tax, depreciation, and amortisation from the aluminium business. The brokerage added that it expects Vedanta to benefit the most in the current environment of rising aluminium, zinc, and silver prices, alongside falling alumina prices. The company derives 80% of its EBITDA from the three metals.

Quoting Freight On Board International Services, Kotak Institutional Equities Wednesday said alumina prices have halved year-on-year. The brokerage is of the view that new capacities are likely to keep the market in structural surplus in the medium term.

TOP HEADLINES

* Hindalco step-down arm Novelis Corp gets $100 mln loan via US municipal bond
* Vedanta declared preferred bidder for manganese block in Andhra Pradesh
* IPO Alert: VMS TMT issue subscribed 22 times as on second day
* Godawari Power board OKs raising INR 5 bln via warrants issue
* Hindalco reports fire at Novelis' plant in New York; no injuries caused
* PRESS: Steel prices seen recovering on safeguard duty, seasonal demand
* IPO Alert: VMS TMT issue subscribed over 8 times on first day
* JSW Steel arm to buy additional economic interest in M Res NSW for $60 mln
* PRESS: Naveen Jindal Group-owned co offers to buy thyssenkrupp Steel Europe
* IPO Alert: VMS TMT raises INR 267.3 mln from anchor investors
* NCLAT sets aside NCLT order on Vedanta's Talwandi Sabo following settlement
* Godawari Power board to meet Thu to mull fundraising proposal
* Century Extrusions likely to complete 9,000 tn capacity addition in Q3 - MD
* Vedanta arm, SEPCO Electric settle dispute over contract for thermal project

Following are the resistance and support levels for the stocks for next week as per calculations by Informist based on their prices on the National Stock Exchange:

End

Reported by Shakshi Jain

Edited by Avishek Dutta

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