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Informist, Friday, Apr. 10, 2026

MUMBAI – Analysts expect metal and mining stocks to track the development related to the West Asia, with talks over the ceasefire agreement between Washington and Tehran set to take place in Pakistan's Islamabad Saturday. Also, analysts would track the March quarter earnings, which would be the next major trigger for the sector. Brokerages preview report for the sector shows the March quarter earnings will likely be strong, aided by the seasonality factor. Some analysts see the developments in West Asia pushing them to revise their earnings estimates for metal companies, especially aluminium.

Realisations of Indian steel companies are expected to rise up in the March quarter on the back of increasing steel prices, according to brokerages. However, increase in blended realisation is expected to be muted, given price increase was limited to a certain basket of products and the bulk of price increase was effected in March, JM Financial said in its preview report. 

Volumes for steel companies are to inch up sequentially, given it is a seasonally strong quarter, analysts said. Demand for steel remained strong in the March quarter, allowing more room for companies to hike prices, analysts said. Steel companies to see recovery in profitability driven by higher average realisations and rise in volume, Nuvama Institutional Equities, said. 

The Nifty Metal index is currently trading near its key resistance range of 12450 points and 12509 points, said Ashish Sherigar, technical and derivatives analyst at NVS Brokerage. A decisive close above this range could trigger a fresh all-time high, sending the index towars 12830–13000 points in the near term, he added. Immediate support is at 11990 points, followed by 11780 points, the analyst said. The metal index ended 1% higher at 12356.40 points on Friday.

TOP HEADLINES

* JSW Steel Q4 consol output down 3% YoY at 7.43 mln tn; FY26 output up 8%
* NALCO raises value of contract awarded to RITES to INR 1.19 billion
* Tata Steel's India ops produce record high 6.25 mln tn crude steel in Q4
* Gallantt Ispat steel output rises 9% YoY in Q4; pellet production surges
* Shyam Metalics Mar consol stainless steel sales up 59% on year to 10,519 tn
* Jindal Steel sets up India's first coal gasification-based iron plant
* Vedanta Q4 aluminium production 613,000 tn; alumina output hits record high
* SAIL reports strongest-ever performance in FY26; sales up 11.5% on year
* NALCO sees highest-ever output across segments in FY26, record alumina sales
* Hind Copper's ore production rises 6% on year to 3.67 mln tn in FY26
* Hind Zinc posts record quarterly mined metal output at 315,000 tn for Q4
* Sandip Kumar Agarwal steps down as CFO of Gallantt Ispat

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

End

Reported by Gopika Balasubramanium

Edited by Akul Nishant Akhoury

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