Metals relief rally: As investors count losses, six stocks trading at 52-week highs; price targets and more

As investors count losses during the ongoing correction, sectors such as pharma and metals have managed to cap losses. Shares in the metal sector weathered all the global geopolitical storms, which have destroyed investor wealth in the last two years.

The metal sector has created immense wealth for investors at a time when Sensex and Nifty have fallen up to 14% in two years. On the contrary, the BSE metal index surged 18% and the Nifty metal index zoomed 26% during the period. Both indices gained 23% and 28.48%, respectively during the last one year.

Metal stocks are on a roll due to soaring global commodity prices led by supply constraints, booming artificial intelligence infrastructure demand and a decline in input costs. The metals rally has also been supported by brokerage upgrades, improving corporate earnings and rising demand expectations across aluminium, steel and non-ferrous metals.

Amid the rally in metal stocks, six of them are trading near their 52-week highs. Here's a look at them.

Shyam Metalics: The iron and steel products maker trades near its 52 week high of Rs 1146.95 reached on  September 24 this year. Shares of Shyam Metalics were trading on a flat note at Rs 1069.65 on BSE. Market cap of the firm stood at Rs 29,857 crore. 360 One Capital has a price target of Rs 1221 on the metal stock.

In December last year, Shyam Metalics and Energy Ltd (SMEL) unveiled a significant capital expenditure plan totalling Rs 10,000 crore, with the objective of more than doubling its revenue by 2031. The strategy targets a 2.5-fold rise in revenue to Rs 40,000 crore and an expansion in total production capacity from 15 million tonnes to 27 million tonnes over the next seven years.

Welspun Corp: Shares of Welspun Corp were trading 3% lower today. Earlier, the stock hit a 52 week high of Rs 2899.95 on BSE. Market cap of the firm stood at Rs 72,502 crore.  Welspun Corp’s consolidated global order book has risen to Rs 24,700 crore (around US$ 2.6 billion). Execution will occur during FY26, FY27, and FY28. Investec has a buy call on stock with a price target of Rs 3145. Jefferies has a price target of Rs 3250 on the Welspun Corp stock.

APL Apollo Tubes: Shares of this metal player hit a 52 week high of Rs 2300.90 on February 12, 2026. In the current session, shares of APL Apollo Tubes were trading 1.45% higher at Rs 2222.30 on BSE. Market cap of the firm rose to Rs 61,594 crore. Geojit Financial has a Buy call on the stock with a price target of Rs 2325.

JSW Steel: JSW Steel, another metal player, saw its stock hitting a 52 week high of Rs 1,350.30 on August 27, 2026. The stock hit Rs 1277.80 mark today. Market cap of the steel player stood at Rs 3.09 lakh crore. Nomura has a price target of Rs 1400 on JSW Steel. PL Capital has a price target of Rs 1,289 with an accumulate call.

Kalyani Steels: The metal stock hit a 52 week high of Rs 1032 on September 23 this year. In the current session, the metal shares were trading 2% higher on BSE. Market cap of the firm rose to Rs 4273 crore.

Sambhv Steel Tubes: Sambhv Steel Tubes shares hit a 52 week high of Rs 164.40 in the current session. Market cap of the firm stood at Rs 4822 crore. Choice Broking has initiated coverage on the stock with a price target of Rs 210. It expects a return of 36.6% on the stock. Supported by a 3.4 times capacity expansion and integrated HR coil production, SAMBHV requires minimal market share gains to achieve scalable volume and margin growth, said the brokerage.