More Stories

Informist, Friday, Aug. 21, 2026

 

MUMBAI – The Nifty Metal index climbed above the 13000-point mark again this week with gradual upside momentum building. The relative strength index points towards positive momentum without entering overbought territory, analysts said. The recent increase in metal prices, both precious and industrial, is also lifting market sentiment.

 

The Nifty Metal ended at 13172.60 points Friday, up 112.35 points or 0.9%. A decisive move above 13220 points could open the way for a gradual extension towards 13450 points. Welspun Corp was the star performer among the index constituents, with its shares closing the week 15.3% higher. Other top gainers include Vedanta and Hindustan Zinc, which ended 4% and 3.7% higher, respectively. Hindustan Copper and National Aluminium Co. ended 2.3% higher Friday. Jindal Stainless, Lloyds Metals and Energy and Steel Authority of India were the underperformers among the index constituents, ending 0.8-2.0% lower.

"The recent RSI (relative strength index) recovery from lower levels supports the improving price structure, and the chart does not show a strong bearish divergence currently," an analyst at a domestic brokerage said. The index is now consolidating just below the 13220 resistance area, so a sustained close above this level would strengthen the bullish set-up, the analyst said, adding that buying closer to the support level is preferable right now rather than chasing the index near resistance.

 

Meanwhile, Welspun Corp's shares hit a record high of INR 2,348.90 on the National Stock Exchange earlier in the day, after the company late Thursday said it bagged a record order of INR 172 billion to supply pipes from its manufacturing facility in the US. Nuvama Institutional Equities Friday raised its target price for Welspun Corp by nearly 41% to INR 2,656, while maintaining a 'buy' recommendation. The brokerage also raised its earnings per share for the company for financial years 2026-27 (Apr-Mar), FY28, and FY29 by 3%, 13%, and 20%, respectively.

 

Among non-ferrous majors, Hindustan Zinc offers strong earnings visibility driven by higher silver contribution and improving production, Systematix Shares and Stocks (India) Ltd. said in a report. The brokerage said Hindalco provides relatively stable earnings through its integrated aluminium operations and improving performance of its US subsidiary Novelis Inc. NALCO offers medium-term growth which remains contingent on incremental volumes from the alumina refinery expansion, although near-term margins could remain sensitive to input costs, it said.

 

TOP HEADLINES

* SPR Auto Tech QIP closes Thu, issue price set at INR 4,280 per share
* Eicher Motors reappoints Siddhartha Vikram Lal as director
* Data Alert: India July domestic air passenger traffic 12 mln, down 5% on yr
* Tata Motors PV to raise prices by up to INR 25,000 across models from Sept 1
* FOCUS: Input costs may squeeze auto cos through Q3 amid war uncertainty
* Damage due to Sanand floods seen up to INR 400 mln, says Tata Motors PV
* Gabriel India to Mon mull raising funds via NCDs on private placement basis
* SC says referral charges from banks, insurance cos to auto dealers taxable
* Hyundai Motor to hike car prices by up to 1?ross portfolios from Sept
* Escorts Kubota begins building new greenfield mfg plant in Uttar Pradesh
* TSF Investments to buy stake in Wheels India for up to INR 1.50 bln
* CCI extends timelines for cos committing to mend behavior in antitrust cases
* Exicom Tele-systems launches liquid-cooled power modules for EV chargers
* NCLT allows SpiceJet to survive IBC admission but calls out co, lessor fraud
* Minda Corp arm gets govt nod to manufacture display module sub-assemblies
* Royal Enfield launches Classic 350 Gorkha edition
* Ola Electric prices base variant of home energy storage pdt at INR 99,999
* SC asks Centre to ground airlines if they do not follow orders on airfares
* NCLT pulls up SpiceJet for settling IBC case with Aviator ML on verdict day
* Lupin gets US FDA final approval for ANDA for pitolisant tablets
* Analyst Concall: Tube Investments sees better margins ahead on cost recovery
* M&M launches BE 6 SPORTEQ electric SUV, prices start at INR 1.15 mln
* Ola Electric launches three battery energy storage products in domestic mkt
* M&M to launch midsize pickup vehicle Scorpio Lifestyler in India in 2027
* TVS Motor launches electric 2-wheeler Orbiter in Sri Lanka
* Ashok Leyland sees medium, heavy CV sales rising in 'high single digit' FY27
* Analyst Concall: Ashok Leyland turns to high horsepower pdts as costs gallop
* Belrise Ind Apr-Jun consol PAT rises 8.9% YoY to INR 1.22 billion
* Jupiter Wagons Apr-Jun consol PAT falls 13.6% YoY to INR 282.55 million
* Earnings Review: Cochin Shipyard PAT sharply dn on lower sales, higher costs
* RIL, Rolls-Royce plan partnership to develop engines for fighter aircraft
* Royal Enfield Continental GT 650 relaunched with cosmetic tweaks

 

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:

 

Company	Price	Week-on-week  change in %	Resistance	Support
HINDALCO INDUSTRIES LTD	1,034.00	0.40	1,048.90	1,017.20
HINDUSTAN COPPER LTD	572.70	8.30	592.10	551.50
HINDUSTAN ZINC LTD	594.90	5.90	609.90	572.10
JINDAL STEEL LTD	1,127.80	3.30	1,143.30	1,111.10
JSW STEEL LTD	1,293.70	1.90	1,309.30	1,272.70
JINDAL STAINLESS LTD	701.35	(-)5.00	727.10	687.10
NATIONAL ALUMINIUM COMPANY LTD	394.45	4.90	405.10	379.30
NMDC LTD	84.61	0.30	86.50	82.60
STEEL AUTHORITY OF INDIA LTD	173.46	2.30	178.50	170.50
TATA STEEL LTD	183.00	(-)0.30	186.30	180.40
VEDANTA LTD	279.00	4.30	286.60	265.20
Index	Levels
NIFTY METAL	13172.60	1.80	13289.30	13014.80
NIFTY 50	24252.00	(-)0.50	24324.90	24170.40
BSE SENSEX	77540.83	(-)0.60	77850.60	77291.00

 

End

 

Reported by Ashutosh Pati

Edited by Avishek Dutta

 

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

 

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.

 

Informist Media Tel +91 (22) 6985-4000

Send comments to feedback@informistmedia.com

 

© Informist Media Pvt. Ltd. 2026. All rights reserved.