Metal Stocks to Buy in India 2022

Will Metal Stocks Finally Shine in 2022?

The metal sector plays a crucial role in the Indian economy. We use different types of metals in our day to day lives. What is the first thing you do in the morning? You plug in your phone for charging. What metal does your charger contain? Aluminium. The train that takes you to work every day is made from stainless steel. The bridges we travel on, our fridge, and even your car is made up of iron, another metal. So, it’s safe to say that we are surrounded by metals. And that metals make up a large chunk of our universe. But do metals also make up your investment universe? I bet not. How many of us have thought of investing in metal stocks? My guess is, very few. But why? Isn’t it the simplest investment idea ever? I mean, think about it… the demand for metal will never go down. And what does this mean for investors like you? Infinite wealth creation in metal stocks.

In this article, we will cover

  1. The Metal Sector in India
  2. Video on the 22 month cycle in base metals
  3. List of Metal Stocks – Iron & Steel
  4. List of Metal Stocks – Non-Ferrous Metals – Aluminium & Coal 
  5. List of Metal Stocks – Mining & Mineral Products 
Now you must be wondering, but which are the best metal stocks in India? Which metal stock will hit the bull’s eye in 2022? Which metal stocks will drive home the maximum wealth in 2022? Don’t worry we will answer all these questions in this article on the best metal stocks in 2022. But like always, we first need to understand the history of the metal sector in India. 

The Metal Sector in India 

India literally sits on a golden throne when it comes to metals and their mining. Did you know that there are around 1,229 mines in India? Yes, of these, 545 are metallic mines. The remaining 684 are non-metallic mines, which is mostly used to mine coal. The Asian sub-continent is blessed with an abundance of metals. This makes India a force to reckon with in the metal sector. And India seems to have used this geographical advantage to the best of its abilities. India is a market leader in producing most of the metals in the world. We are the – 
  • Fourth largest producer of iron ore and chromium in the world. 
  • Fifth largest producer of bauxite, graphite, and zinc across the globe. 
  • Seventh largest producer of lead and sulphur. 
  • 11th largest producer of titanium and uranium in the world. 
The list of our accomplishments in the metal sector is endless. Trust us, we are not exaggerating. Our iron ore exports are expected to reach US$ 2.23 Billion by FY 2022. This means a y-o-y growth of 21.80%! Wait, don’t get excited just yet. Did you know that India is the second-largest producer of crude steel in the world?! Yes. The production of crude steel registered a growth of 46.90% (y-o-y) in FY 21. Even the production of steel in India is expected to grow at 18% to reach 9.2 million tonnes by FY 22. The graph below shows the growth in the production of both metals and non-metals in India. Metal StocksIndia has always been a big deal when it comes to the metal sector. But it is the recent rally in certain metals that has made the metal sector a favourite among investors. And this rally is all thanks to the conflict between Russia and Ukraine. The metal which showed the biggest uptrend in 2022 was Nickel. Now nickel is used in the production of stainless steel and other alloys. It is used in the production of mobile phones, medical equipment, buildings, and power generation etc. There was an almost one-sided rally in Nickel between February 24, 2022 and March 07, 2022. This was the first week of the conflict between Russia and Ukraine. Nickel prices jumped from 24,714 USD/Tonne to 48,201 USD/T. This was a rally of nearly 95% in one week. And Nickel was not the only metal. The last one year was great for almost every other metal. The table below shows the one-year performance of metals as of March 30, 2022. 
MetalsY-O-Y Increase
Now it doesn’t take a genius to realise who will benefit the most from the global rally in metals. But of course, metal stocks. Now there are more than 50-60 metal stocks in India. Each metal stock is further subdivided in segments like steel, iron, aluminium etc. Now there are two ways in which you can invest in metal stocks. You can either invest in individual metal stocks. But there are nearly 50 metal stocks listed on Indian stock exchanges. Which of these do you invest in? It would not be financially possible to invest in all these 50 metal stocks. At least not if you plan to hold substantial number of shares. The next option is to invest in Nifty Metal Index, which is a collection of 15 of the biggest metal stocks in India. Check out this video on the 22 month cycle in base metals and understand how fear and greed work in metal stocks. 
The below graph shows the performance of Nifty Metal Index. The index has given an absolute return of 56% in the last one year (as of March 31, 2022). Metal Stocks 2022Let us now take a closer look at the top metal stocks in India in 2022. For your ease, we have divided the list of metal stocks in three sections. 
  • List of Metal Stocks – Iron & Steel
  • List of Metal Stocks – Non-Ferrous Metals – Aluminium & Coal 
  • List of Metal Stocks – Mining & Mineral Products 

List of Metal Stocks – Iron & Steel

NameCurrent Price(In Rs)Market Capitalization(Rs in Crore)Price to Earnings RatioReturn on Equity (%)Debt to Equity Ratio
JSW Steel               741.85 1,79,321.468.3318.971.16
Tata Steel           1,321.85 1,61,438.074.2910.850.85
Jindal Steel               530.80 54,146.288.4514.90.5
S A I L               100.45 41,491.133.049.510.47
APL Apollo Tubes               935.00 23,401.2245.5723.610.28
Ratnamani Metals           2,608.50 12,188.9638.0314.930.08
Jindal Stain.               205.00 10,337.597.4212.160.78
Shyam Metalics               366.50 9,348.715.5626.080.06
Jindal Stain. Hi               395.35 9,327.685.5125.350.4
Godawari Power               391.50 5,518.04437.380.18
Apollo Tricoat               866.45 5,267.9836.841.690.14
Lloyds Metals               138.75 5,115.97166.930.080.2
Welspun Corp               177.40 4,629.259.9716.070.33
Sarda Energy           1,150.00 4,145.685.6718.290.58
Usha Martin               131.45 4,005.8015.9911.330.3
Mah. Seamless               562.80 3,770.779.916.070.23
Tata Steel Long               732.60 3,304.023.1824.640.55
Mishra Dhatu Nig               169.95 3,183.8318.7216.370.14
Kirl. Ferrous               221.10 3,066.996.4535.090.17
Jindal Saw                 92.20 2,948.126.294.640.78
Rajratan Global               544.00 2,761.9724.9926.560.7
Technocraf.Inds.           1,032.25 2,525.0611.1512.120.36
Tata Metaliks               792.20 2,501.529.6120.320.11
Surya Roshni               424.10 2,307.4712.7612.020.48
Mukand               145.80 2,061.6830.13-161.643.21
JSW Ispat Speci.                 33.30 1,563.5817.116.412.05
ISMT                 51.80 1,556.60---
Gallantt Ispat                 50.85 1,435.8014.9211.850.36
JTL Infra               234.75 1,394.2431.0328.150.43
Prakash Industri                 77.50 1,387.908.283.280.18
Kalyani Steels               303.65 1,325.725.317.970.18
Lloyds Steels                 14.68 1,319.35382.410.440
Sunflag Iron                 65.40 1,178.624.69.640.35
Vardhman Special               234.45 950.979.710.640.6
Welspun Special.                 16.40 869.34--71.3313.61
Beekay Steel Ind               423.05 806.825.3115.340.22
Goodluck India               284.70 740.3812.588.281.14
Kamdhenu               234.00 630.3019.7111.880.46
Salasar Techno               218.60 624.5418.612.80.78
Raghav Product.               560.00 609.0934.8117.190.06
BMW Industries                 27.00 607.73--28.960.49
Hi-Tech Pipes               505.80 594.1316.6812.181.34
Man Industries               101.75 580.985.7512.650.09
Rama Steel Tubes               316.75 531.9619.2513.190.91
Pennar Industrie                 35.90 510.3711.68-1.640.89
Jai Balaji Inds.                 45.55 503.148.23--
Gallantt Metal                 61.35 498.915.3611.70.07
Supershakti Met.               405.00 466.7735.8810.910.16
D P Wires               331.00 449.0914.7921.760.15
Bharat Wire                 69.15         437.36 12.75-6.990.63
MSP Steel & Pow.                 11.16 430.1019.141.591.21
Gandhi Spl. Tube               349.50 424.729.922.560
Bajaj Steel Inds               634.95 330.165.9844.590.3
Manaksia Steels                 44.20 289.668.8612.520.18
Panchmahal Steel               147.70 281.805.148.470.39
Natl. Gen. Inds.               505.80 279.7252.28-3.450.09
Alliance Integ.                 20.10 233.41---
Bedmutha Indus.                 69.90 225.510.89-3.1
Sh. Bajrang All.               242.90 218.623.4822.690.14
Shah Alloys               105.55 208.993.22-12.83
Visa Steel                 15.65 181.22---
Manaksia Coated                 27.30 178.9226.746.041.41
Guj.Nat.Resour.                 22.05 176.94--4.470.16
Scan Steels                 32.40 169.613.429.510.34
Electrotherm(I)               115.05 146.612.73--
India Steel                   3.59 142.90--11.741.03
Mideast Int. Stl                 10.05 138.56--74.824.86
Ahlada Engineers               103.75 134.0416.768.910.3
Ankit Met.Power                   9.48 133.76---
Suraj Products               114.75 130.825.9718.230.71
Suraj                 62.85 121.0541.031.480.64
Mahamaya Steel                 71.20 105.1720.020.770.51
Kanishk Steel                 36.10 102.664.5710.10.13
Incredible Indus                 21.55 100.7742.523.120.41
Bihar Sponge                 11.10 100.1313.59--
Prakash Steelage                   5.25 91.892.03--
S.A.L Steel                 10.45         88.77 4.0256.714.13
Rudra Global                 34.75 87.174.74-33.150.67
Bansal Roofing                 62.05 81.7936.1914.770.13
Uttam Galva Stee                   5.00 71.12---
Hisar Met.Inds.               128.75 69.537.0718.11.41
Supreme Engg.                   2.55 63.74245.16-9.92.2
Vaswani Industri                 20.40 61.2022.334.060.51
Gyscoal Alloys                   3.70 58.57---
Unison Metals                 35.35 56.6316.888.841.49
Rathi Bars                 29.95 48.9217.272.760.63
Gujarat Intrux               123.70 42.4916.167.750.03
Remi Edelstahl                 38.55 42.3418.330.380.42
Oil Country                   9.50 42.08---
Aanchal Ispat                 19.40 40.46--10.131.59
Surani Steel Tub                 47.45 39.3110.118.730.8
Bombay Wire                 65.90 35.19--0.950
Zenith Steel                   2.47 35.1511.06--
Bonlon Industrie                 24.50 34.7517.732.940.05
Chennai Ferrous                 95.80 34.511.7--
Modern Steels                 24.90 34.27---
Sharda Ispat                 66.80 33.948.210.550.29
Metal Coatings                 44.30 32.478.948.50.09
Nova Iron &Steel                   8.27 29.89---
Riddhi Steel                 31.35 25.9919.842.852.29
Ashirwad Steels                 15.90 19.87-1.680
Natl. Steel&Agro                   4.25 18.91---
Ashiana Ispat                 21.00 16.7315.633.562.38
Garg Furnace                 37.60 15.089.48-14.750.98
Sathavaha. Ispat                   2.85 14.51---
Pact Industries                   2.55 14.1314132.881.13
Grand Foundry                   4.20 12.78---
Rish.Digh.Steel                 23.10 12.68--3.290.06
Rajas. Tube Mfg                 21.85 9.8517.917.222.29
Narayani Steels                   8.54 9.32---
Umiya Tubes                   8.41 8.4276.550.160.2
Ahm. Steelcraft                 19.50 7.98--0.910
Mukat Pipes                   6.69 7.91---
Sh. Steel Wire                 23.75 7.86262.167.120
Aditya Ispat                 10.35 5.5411.544.062.49
P.M. Telelinnks                   5.33 5.37-0.780
Real Strips                   8.60 5.14---
Mahalaxmi Seam.                   9.55 5.049.17--
T N Steel Tubes                   9.40 4.82--7.971.23
Aryavan Enter.                 10.97 4.22--3.890.15
Gopal Iron Stl.                   7.62 3.77--880.66
Vallabh Steels                   6.68 3.31--192.41-
Heera Ispat                   3.55 2.09--48.8-
Indian Bright St                 20.40 2.04--20.510.27

List of Metal Stocks – Non-Ferrous Metals

Name Current Price (In Rs)  Market Capitalization (Rs in Crore) Price to Earnings RatioReturn on Equity (%)Debt to Equity Ratio
Hindustan Zinc317.6134196.214.5121.260.13
Hindalco Industries.567.1127437.211.375.330.96
National Aluminium Company Ltd. 121.5522324.247.7812.570.01
Hindustan Copper11611217.545.2310.730.54
Tinplate Co.414.54338.5914.7312.250.01
Gravita India3092133.2817.921.240.98
Prec. Wires (I)80.15926.8215.113.120.09
MMP Industries193490.323.098.440.23
Ram Ratna Wires202444.49.787.871.36
PG Foils322292.795.798.91.05
Euro Panel114.9281.5277.9811.360.79
Arfin India165262.2333.974.581.42
Maan Aluminium134.15181.389.5225.920.88
Manaksia Alumi.24.6161.2119.4-2.880.92
Century Extrus.10.684.814.14.220.78
Sagardeep Alloys39.266.8443.390.540.47
Sacheta Metals23.544.9419.696.670.39
Shalimar Wires10.2843.96--47.814.44
Cubex Tubings23.0533.0115.512.260.07
Amco India7028.778.125.010.51
Maitri Enterp.60.226.48331.063.490.03
Hind Aluminium41.926.39--19.120.4
RCI Industries6.8110.68--525.21-
Bothra Metals5.4110.02--6.412.85
Golkonda Alumin.18.59.7510.04-3.830
Bhoruka Alum.1.548.46--0.860.23
Synthiko Foils39.76.916.188.390
Mewat Zinc16.326.53-0.280
N D Metal Inds.26.256.51--7.831.17
Sturdy Industrie0.385.75---
Sudal Industries5.514.06---
Galada Power4.493.36---
Globus Corp.0.362.3---

List of Metal Stocks – Mining & Mineral Products

Name Current Price (In Rs)  Market Capitalization (Rs in Crore) Price to Earnings RatioReturn on Equity (%)Debt to Equity Ratio
Coal India185.9114565.17.5536.990.08
G M D C193.156142.1713.848.240
Maithan Alloys13553944.625.9516.410.01
Sandur Manganese35123161.466.2216.80.26
Indian Metals437.32359.435.4613.670.45
Orissa Minerals2923.451754.07--123.0618.21
Ashapura Minech.130.95119811.1117.511.12
South West Pinn.198.85554.8353.210.480.48
Shyam Century23.6524.3310.4617.150
Rohit Ferro Tech29.2332.23---
Dec.Gold Mines32298.63--6.930
Indsil Hydro98.95274.9811.09-6.360.95
20 Microns77.4273.098.5311.540.53
Bhagyanagar Ind45.85146.718.452.791.05
Facor Alloys7.35143.7410.68-4.80.09
Sarthak Metals98.65135.051715.960.58
Asi Industries14.05126.56168.753.810.64
Madhav Copper30.181.69-9.860.17
VBC Ferro Alloys43.771.63--47.310.16
Nagpur Power53.9570.6711.742.560.16
Baroda Extrusion4.4566.32114.35--
Shilp Gravures91.9556.546.6312.290.03
HG Industries98.645.69--2.310
Elegant Marbles110.5540.4620.43-1.860
Impex Ferro Tech2.723.754.56--
Kachchh Minerals22.5511.96-11.160.41
Starlit Power10.0510.12---
Rajdarshan Inds31.559.820.884.230
MFS Intercorp20.78.9520.33-3.280.6
South. Magnesium28.058.4311.23-3.590.57
Elango Industrie11.84.5225.180.850
Shiva Granito2.93.83-00.39
 India is on the fast track of economic development. Billions of rupees are being pumped to upgrade our infrastructure sector. What does this mean? Simply that the demand for steel, iron, aluminium and other metals will continue to grow. Even the demand for metals like Aluminium will go up as the Electric Vehicle sector picks up. Now it doesn’t take a genius to realise that the future is metal! So, it wouldn’t be the worst idea to invest in metal stocks. But which metal stocks should you invest in? The answer lies with Samco Stock Ratings. Check out unbiased rating of every metal stock in India with Samco Stock Rating. Open a FREE Demat account with India’s best stockbroker Samco Securities and invest in the best metal stocks always! Related Articles:EV stocksAuto stocks

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