Metal stocks recorded notable decline on August 14, pushing the Nifty Metal index down 1.5 percent to emerge as the top sectoral loser. The index has now snapped a three-day gaining streak.
The shares had seen a sharp rally over the past three sessions, buoyed by weaker dollar and increased expectations of a rate cut by the US Federal Reserve, along with strong Q1 earnings announcement.
NMDC shares were the top loser on the index, dropping more than 3 percent to trade at Rs 69 apiece. This comes a day after the stock jumped up to 3 percent after the release of its results. The company reported a marginal rise in net profit to Rs 1,968 crore and 24.5 percent on-year rise in revenue from operations to Rs 6,739 crore in Q1 FY26.
Jindal Steel & Power shares dropped more than 2 percent to trade at Rs 971 apiece. The company on August 12 reported a 11.5 percent on-year rise in consolidated net profit of Rs 1,494 crore, but 10 percent YoY fall in revenue from operations to Rs 12,294.5 crore in Q1 FY26. The shares had jumped 3 percent on August 13 after the release of the results.
Steel Authority of India (SAIL) and Vedanta shares also dropped more than 2 percent each, while Tata Steel shares were down over 1.8 percent. Hindustan Zinc and National Aluminium Company (NALCO) shares dropped around 1.5 percent each.
Hindalco Industries shares fell more than 1 percent. This comes a day after the stock rallied up to 6 percent, following the release of its Q1 results. Hindalco Industries on August 12 reported a consolidated net profit at Rs 4,004 crore for the quarter ended June 30, 2025, as higher sales volumes helped mitigate the impact of weaker aluminium prices. This marks a 30 percent on-year rise from the Rs 3,074 crore net profit reported in the year-ago period. The company's revenue from operations meanwhile rose 13 percent on-year to Rs 64,232 crore in Q1 FY26 as compared to Rs 57,013 crore in Q1 FY25.
Welspun Corp, Hindustan Copper and JSW Steel shares were trading in the red with marginal losses, while APL Apollo Tubes, Adani Enterprises and Jindal Stainless Steel were in the green after recording marginal gains.
Also read: Our LIVE blog on Q1 updates
Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
