Tata Steel vs Hindalco vs JSW vs Nalco vs SAIL vs NMDC: Which Metal Stock To Gain From Aluminium Price Shock?

Tata Steel vs Hindalco vs JSW Steel vs NALCO vs SAIL: A sharp surge in aluminium prices in the commodities market has turned the spotlight on metal and mining stocks like Tata Steel, Hindalco, JSW Steel, NALCO, SAIL, etc. The ongoing tensions in West Asia and supply-side disruptions are expected to keep commodity supply-demand dynamics under pressure throughout 2026, as per the PL Capital report.

Metal stocks have outshone other segments despite the market volatility in the past few months. Nifty Metal extended its gains during Thursday's session as the index was up close to 0.9% during the market opening session.

Nifty Metal Stock Rally

Nifty Metal was up close to 1.72% at 9:38 am in Thursday's trading session with Vedanta, National Aluminium, SAIL, NMDC, JSW Steel, Hindalco, emerging as the top gainers. Nifty Metal has surged more than 7% in one month and has jumped around 28.84% return in in past six months.

Tata Steel shares were trading 0.68% higher at Rs 221.2 per share on BSE at 10 am. Whereas Hindalco stock was up 1.81% at Rs 1093.10 per share. JSW Steel scrip was trading 1.27% higher at Rs 1291 per share. NALCO stock rallied 1.22% and was at Rs 413.3 per share. SAIL share price today was trading 1.19% higher at Rs 204 per share.

Tata Steel vs Hindalco vs JSW Steel vs NALCO vs SAIL: Which Stock To Shine In 2026?

While aluminium prices hit a record high recently, alumina markets remain oversupplied. Chinese smelters are expected to deliver strong financial performance in CY26 on account of weak alumina prices and higher LME. Any incremental exports from China can also put incremental pressure, although China has capacity and bauxite limitations, as per PL Capital report.

The brokerage remains 'Overweight' on the metal and mining sector and has maintained an 'Accumulate' rating for Hindalco, Jindal Stainless, Jindal Steel, JSW Steel, NMDC, SAIL and Tata Steel.

Company Name	MCap	CMP (INR)	TP (INR)	Rating
Tata Steel	2,647	212	216	Accumulate
JSW Steel	3,062	1,252	1,289	Accumulate
Jindal Steel	1,239	1,214	1,289	Accumulate
SAIL	727	176	176	Accumulate
Jindal Stainless	603	732	821	Accumulate
NMDC	762	87	95	Accumulate
Hindalco	2,340	1,041	1,043	Accumulate
Nalco	724	394	413

"We maintain our Accumulate/Hold rating on HNDL/NACL, respectively, and await a better entry point. Every $100 increase in LME upgrades our HNDL/NACL EBITDA by ~4/5%, respectively," stated PL Capital in its report.

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