Metal shares: Vedanta, Hindustan Zinc, Nalco, SAIL shares rally on gold, silver duty hike
Shares of Hindustan Zinc zoomed 5.54% to Rs 677.10. The firm is India's largest primary silver producer.
- May 13, 2026,
- Updated May 13, 2026 1:26 PM IST
Shares of metal firms such as Vedanta, Hindustan Zinc, Nalco, Hindalco, SAIL, Jindal Steel, JSW Steel, NMDC and Lloyds Metals pulled the market higher on Wednesday. The rally came after the government raised import duties on precious metals such as gold and silver. Shares of Hindustan Zinc zoomed 5.54% to Rs 677.10. The firm is India's largest primary silver producer. It produces refined silver with a purity of at least 99.9%, primarily extracted from Sindesar Khurd mine in Rajasthan.
Shares of Nalco, the aluminium producer, also surged over 4% to Rs 411.05 against the previous close of Rs 393.80. Shares of Hindustan Zinc's parent Vedanta too surged 6% to Rs 323.65 the afternoon session today.
Hindalco Industries, which produces silver as a by-product of its copper smelting operations, also saw its stock rise 3.8% to Rs 1081.35 against the previous close of Rs 1041.70. The company extracts and refines silver (along with gold) at its Dahej copper facility in Gujarat.
Other metal stocks such as SAIL (14%), Jindal Steel (2.79%), JSW Steel (2.40%), NMDC (4.53%) and Lloyds Metals (4%) were the other gainers leading the market rally.
BSE metal index zoomed 1,412 pts to 43,403 taking the market higher in the afternoon session. Nifty Metal index too zoomed 3.22% to 13,296, rising 415 pts against the previous close of 12,881.
Apart from the import duty hike, global metal markets are witnessing a massive, broad-based rally with precious metals such as gold and silver hitting record highs, with significant gains in industrial metals like copper.
On the global front, gold rose to around $4,748 per ounce, while silver jumped by over 7% to over $85 per ounce. Industrial metals also rallied after Copper soared past $14,000 per tonne on the London Metal Exchange (LME), nearing its all-time high due to supply crunches and AI infrastructure demand.
India on Wednesday raise the import duty paid on the import of gold and silver to 15% from 6% in a move designed to reduce the country's dependence on overseas metal purchases and ease pressure on its foreign exchange reserves.
Shares of metal firms such as Vedanta, Hindustan Zinc, Nalco, Hindalco, SAIL, Jindal Steel, JSW Steel, NMDC and Lloyds Metals pulled the market higher on Wednesday. The rally came after the government raised import duties on precious metals such as gold and silver. Shares of Hindustan Zinc zoomed 5.54% to Rs 677.10. The firm is India's largest primary silver producer. It produces refined silver with a purity of at least 99.9%, primarily extracted from Sindesar Khurd mine in Rajasthan.
Shares of Nalco, the aluminium producer, also surged over 4% to Rs 411.05 against the previous close of Rs 393.80. Shares of Hindustan Zinc's parent Vedanta too surged 6% to Rs 323.65 the afternoon session today.
Hindalco Industries, which produces silver as a by-product of its copper smelting operations, also saw its stock rise 3.8% to Rs 1081.35 against the previous close of Rs 1041.70. The company extracts and refines silver (along with gold) at its Dahej copper facility in Gujarat.
Other metal stocks such as SAIL (14%), Jindal Steel (2.79%), JSW Steel (2.40%), NMDC (4.53%) and Lloyds Metals (4%) were the other gainers leading the market rally.
BSE metal index zoomed 1,412 pts to 43,403 taking the market higher in the afternoon session. Nifty Metal index too zoomed 3.22% to 13,296, rising 415 pts against the previous close of 12,881.
Apart from the import duty hike, global metal markets are witnessing a massive, broad-based rally with precious metals such as gold and silver hitting record highs, with significant gains in industrial metals like copper.
On the global front, gold rose to around $4,748 per ounce, while silver jumped by over 7% to over $85 per ounce. Industrial metals also rallied after Copper soared past $14,000 per tonne on the London Metal Exchange (LME), nearing its all-time high due to supply crunches and AI infrastructure demand.
India on Wednesday raise the import duty paid on the import of gold and silver to 15% from 6% in a move designed to reduce the country's dependence on overseas metal purchases and ease pressure on its foreign exchange reserves.