Metal Sector

Indian benchmark indices ended on a mixed note on June 10, 2026, as geopolitical tensions, rising crude oil prices, rupee weakness, and persistent FII selling kept investors cautious. While FMCG and Private Bank stocks provided support, sectors such as Energy, Metals, Realty, and Media witnessed significant selling pressure ahead of key US inflation data.

Vedanta Ltd shares declined 3.71% as investors reacted to CopperTech Metals' planned NYSE listing and auditor warnings about the company's ability to continue as a going concern. The Vedanta-owned copper business is seeking capital to fund a $2.7 billion expansion of Zambia's Konkola Copper Mines despite significant debt, operational losses, and a challenging financial outlook.

Rajesh Exports has defended its financial reporting after SEBI's interim order highlighted revenue mismatches of ₹15.15 lakh crore. The company says its revenues are accurate, denies any overstatement, and attributes the issue to a communication gap regarding financial data interpretation.

CMR Green Technologies IPO has attracted attention due to its strong aluminium recycling business, ESG-focused growth story, and rising GMP. While the company benefits from market leadership and a strong automotive customer base, investors should also consider concerns around rising debt, thin margins, and the pure OFS structure before subscribing.

Bloomberg Economics estimates that the RBI sold nearly $12 billion worth of gold reserves while adding $7.5 billion in foreign currency assets. The move signals a focus on defending the rupee, preserving forex liquidity, and managing risks arising from elevated oil prices and global uncertainty.

NMDC reached a new 52-week high following strong May 2026 production growth, record iron ore sales, and robust Q4 FY26 earnings. Backed by higher realizations, healthy profitability, and a long-term expansion roadmap targeting 100 million tonnes of production capacity by 2030, the company continues to strengthen its position as India's leading iron ore producer.

Benchmark indices ended range-bound on May 27, 2026, with Nifty and Sensex closing marginally lower amid profit booking, geopolitical concerns, and weakness in financial stocks led by HDFC Bank. Strong gains in metal, media, energy, and auto stocks helped limit market losses despite cautious investor sentiment.

JSW Steel shares touched a fresh 52-week high of ₹1,314 after the company reported robust Q4 FY26 earnings, exceptional gains from the BPSL transaction, record revenue, and significant debt reduction. Strong steel demand, expansion plans, and bullish brokerage outlooks further strengthened investor confidence in the stock.

JSW Steel informed the bourses and shareholders that all furnaces have started operations and are running at optimal levels.

In February 2024, JFE Steel and JSW incorporated JSW JFE Electrical Steel Private Limited, a joint venture for GOES production.