Metal Stocks to Buy: These 4 steel, copper and alloy shares may give up to 29% return — Do you hold any?

Sedani said demand remains strong from renewable energy and electric vehicles, along with government capital expenditure of Rs 12.2 lakh crore. He expects volume growth of 9 to 11 per cent CAGR over the next three years. 

Speciality steel and production-linked incentive schemes are also expected to support growth. He added that China has reduced metal production, which may support global supply from India. He recommended four stocks from different segments under the theme.

Jindal Stainless is his pick in the stainless steel segment with a target price of Rs 900. The stock is currently trading at Rs 762.50, implying an upside of about 18 per cent. He said the company reported 11 per cent growth in income and a 41 per cent rise in profit in Q4. It is the largest stainless steel producer and has guided for 7 to 9 per cent volume growth in FY27.

In the copper segment, he recommended Hindustan Copper with a target of Rs 650. The stock is trading at Rs 542.75, indicating an upside of around 20 per cent. He said it is a key play on the copper cycle, with strong demand from the EV segment and plans to increase capacity to 12.2 million tonnes by 2030.

For ferro alloys, Sedani suggested Indian Metals and Ferro Alloys with a target of Rs 1,860. The stock is currently at Rs 1,436.50, implying an upside of about 29 per cent. He said the company is the largest ferrochrome producer, and the recent acquisition of Tata Ferro Chrome may support growth.

He also recommended Graphite India with a target of Rs 794. The stock is trading at Rs 707.90, suggesting an upside of around 12 per cent. He said the company operates in graphite electrodes and carbon products, with potential demand from EV batteries and capacity expansion plans.

Sedani said these stocks can be considered from an investment perspective for six to eight months.