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Vedanta Hindalco surge up to 11% in a week but analysts urge buy on dips not chase
Economy
Published on 15 May 2026
Import duty hikes on gold and silver sparked the rally
Metal stocks surged this week despite broader market volatility, lifting the Nifty Metal index around 4% as Adani Enterprises, Hindalco, and Vedanta climbed up to 11%. Analysts say investors should not chase momentum and instead look to buy on dips. The rally is linked to government increases in import duties on gold and silver to 15%, aimed at easing rupee pressure, plus industrial demand and supply disruptions—from copper-linked sulphuric acid issues to aluminium smelter disruptions in the Gulf.
- Nifty Metal index rose about 4% amid overall market volatility
- Adani Enterprises, Hindalco and Vedanta jumped up to 11% in a week
- Government raised gold and silver import duties to 15%
- Copper support came from a sulphuric acid supply issue
- Aluminium smelters in the Gulf supply about 9% globally, with 3 million tonnes impacted
- Analysts advise accumulating on pullbacks due to metals being highly cyclical
Read the full story at The Economic Times
This summarization was done by Beige for a story published on 
The Economic Times