Nifty Metal Index was trading at 2,637.20 up 80.50 points or 3.15% around 3.00 pm, after opening at 2,562.60 and touching a high of 2,638.95 on Wednesday.
Tata Steel was top performer, trading 7% higher while Hindalco (+5.17%), SAIL (+4.22%)and Hindustan Zinc (+3.45%) stocks also contributed in the upside.
Tata Steel in Europe and POSCO from South Korea will collaborate to develop and test steels and tube designs, which will be used to create a hyperloop - a tube big enough to carry a passenger or freight pod able to travel at more than 1,000km/hour. Hindustan Zinc will supply 45,000 tonnes of zinc to Tata Steel.
Hindalco Industries on Tuesday reported a 60.2 percent fall in consolidated profit after tax (PAT) at Rs 387 crore for the quarter ended September 30 but said it is expecting a strong third and fourth quarter as demand has returned in domestic as well as export markets.
NMDC is struggling by trading 3.46% lower. NMDC announced share buyback worth Rs1,378cr.
The indices are bullish with BSE Sensex trading at 43,540.83 up 263.18 points or 0.61% and Nifty 50 at 12,730.35 up 99.25 points or 0.79% at around 3.08 pm.