Sector Alpha Week of 2026-08-05
20-quarter listed-company comparison

Metals Stocks in India

Metals: Hindustan Zinc Ltd owns the largest revenue base; Hindustan Copper Ltd has the fastest current growth.

01 · the index people search for

Nifty Metals Index — Constituents & Performance

The Metals companies below are the listed Indian Metals universe this page tracks — the same constituent set people search for as the Nifty Metals index. Every figure is equal-weighted across those companies, so one large constituent cannot set the reading. Each number carries its own as-of date.

02 · the sector itself · before any single company

How has Metals moved against NIFTY 500?

The line below covers up to 5.2 years and opens on the 5Y view; the buttons cut it shorter. Over the most recent two of them this sector is 130% ahead of NIFTY 500. Earnings across its companies grew 48% on average over the last four reported quarters.

ASLEEP · 1y +142.1%Price and the fundamentals both up1 of 3 companies ahead of NIFTY 500 by 5% or more over three months

RS — · 1/3 >200d (−1) · 1/3 lead (+0) · EPS 3/3↑

200500100020262025202420232022 997333 TRAILING 12-MONTH EPS · 100 AT THE START0100259Mar 24Sep 24Mar 25Sep 25Mar 26Mar 2024 · trailing 12-month earnings per share at 100, against 100 at the start · up 0.0% on a year ago · 3 reportingSep 2024 · trailing 12-month earnings per share at 113, against 100 at the start · up 14.5% on a year ago · 3 reportingMar 2025 · trailing 12-month earnings per share at 131, against 100 at the start · up 33.5% on a year ago · 3 reportingSep 2025 · trailing 12-month earnings per share at 137, against 100 at the start · up 20.9% on a year ago · 3 reportingMar 2026 · trailing 12-month earnings per share at 259, against 100 at the start · up 97.5% on a year ago · 3 reportingSep 2023 · too few reporting — 2 of the Metals filed a comparable quarter, and three is the floor for a readingDec 2023 · too few reporting — 2 of the Metals filed a comparable quarter, and three is the floor for a readingJun 2024 · too few reporting — 2 of the Metals filed a comparable quarter, and three is the floor for a readingDec 2024 · too few reporting — 2 of the Metals filed a comparable quarter, and three is the floor for a readingJun 2025 · too few reporting — 2 of the Metals filed a comparable quarter, and three is the floor for a readingDec 2025 · too few reporting — 2 of the Metals filed a comparable quarter, and three is the floor for a readingNot reported yet — earnings trail price by a quarter or two259 · Mar 26No earnings on file this far back — the price series reaches further than the filings doNO EARNINGS ON FILE
200500100020262025202420232022 997333 TRAILING 12-MONTH EPS · 100 AT THE START0100259Mar 24Mar 26Mar 2024 · trailing 12-month earnings per share at 100, against 100 at the start · up 0.0% on a year ago · 3 reportingSep 2024 · trailing 12-month earnings per share at 113, against 100 at the start · up 14.5% on a year ago · 3 reportingMar 2025 · trailing 12-month earnings per share at 131, against 100 at the start · up 33.5% on a year ago · 3 reportingSep 2025 · trailing 12-month earnings per share at 137, against 100 at the start · up 20.9% on a year ago · 3 reportingMar 2026 · trailing 12-month earnings per share at 259, against 100 at the start · up 97.5% on a year ago · 3 reportingSep 2023 · too few reporting — 2 of the Metals filed a comparable quarter, and three is the floor for a readingDec 2023 · too few reporting — 2 of the Metals filed a comparable quarter, and three is the floor for a readingJun 2024 · too few reporting — 2 of the Metals filed a comparable quarter, and three is the floor for a readingDec 2024 · too few reporting — 2 of the Metals filed a comparable quarter, and three is the floor for a readingJun 2025 · too few reporting — 2 of the Metals filed a comparable quarter, and three is the floor for a readingDec 2025 · too few reporting — 2 of the Metals filed a comparable quarter, and three is the floor for a readingNot reported yet — earnings trail price by a quarter or two259No earnings on file this far back — the price series reaches further than the filings doNO EARNINGS ON FILE
Metals, equal-weighted, based at 200 NIFTY 500, same base, same start trailing 12-month earnings per share rising falling

Both lines start at 200 in the same week, so the distance between them is the whole story: the sector line is an equal-weighted index of its 3 companies. The bars underneath are trailing 12-month earnings per share, one bar per reported quarter, each member rebased to 100 at the start and the sector taking the median — so a price line pulling away from flat bars is a re-rating, not earnings. A bar turns red when that figure is lower than the quarter before. Rules are fixed and applied identically everywhere on this site: ahead by 5% or more over three months, or behind by 20% or more over a year while earnings grew 20% or more. Hover any point to read both values and the gap. This is a description of what the numbers did, not advice.

03 · sector relative strength, before individual stocks

Is Metals outperforming NIFTY 500?

Metals has outperformed NIFTY 500 by 132.6% over the last 52 weeks. Over 13 weeks the gap is a shortfall of 3.3%. 2 of 3 covered companies currently beat NIFTY on Mansfield relative strength, so leadership inside the sector is selective. Divine Power Energy Ltd is the strongest against the sector itself at +33.1%. Readings are as of 2026-07-19.

-3.3%Sector vs NIFTY 500 · 13 weeks
+132.6%Sector vs NIFTY 500 · 52 weeks
2/3Stocks leading NIFTY 500
1/3Stocks leading sector

Sector metric: 31.6 as of 2026-07-19 · NARROWING · rising.

The central tension: the companies with the most scale are not necessarily the companies creating the most change.

Start with scale. Then earnings trajectory. Then business quality. Only after those three agree should price leadership carry much weight.

Bottom line

Metals has outperformed NIFTY 500 by 132.6% over 52 weeks and 3.3% over 13 weeks. 2 of 3 covered companies beat NIFTY on Mansfield relative strength, while 1 of 3 beat the sector itself. Hindustan Zinc Ltd leads with revenue of ₹46,820 crore, based on 2 of 3 comparable companies through Jun 2026.

Companies
3
complete canonical membership
Combined market value
₹2.8 L Cr
Hindustan Zinc Ltd
Revenue growing
2/2
positive TTM year-on-year growth
Beating NIFTY 500
2/3
positive Mansfield relative strength
Comparing 2 of 3
04 · research priority, made explicit

4-Factor Sector Score

An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.

Growth & earnings · 35%Capital efficiency · 25%Valuation · 20%Relative strength · 20%
Hindustan Copper Ltd has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 86.6% evidence confidence.
How this score is built, and what the marks mean

Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.

CompanyScorePrice stageGrowth & earnings/35Capital efficiency/25Valuation/20Relative strength/20
1Hindustan Copper LtdHINDCOPPER 75.9/100Favorable setup87% evidence ASLEEP 32.8/35 Revenue 48.6% · PAT 97.4% · OPM change 18 pp 88% evidence 24.0/25 ROCE 42.5% · OPM 54% 100% evidence 9.9/20 P/E 48.1× · PEG 1.97 85% evidence 9.2/20 RS sector -3.6% · RS bench 8.2% · 1Y 89.8%0 of 10 weeks ahead 70% evidence
Exact sum: 32.8 + 24 + 9.9 + 9.2 = 75.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
2Hindustan Zinc LtdHINDZINC 74.0/100Favorable setup79% evidence ASLEEP 34.1/35 Revenue 38.8% · PAT 66.6% · OPM change 9 pp 95% evidence 22.0/25 ROCE 69.5% · OPM 59% 76% evidence 10.4/20 P/E 13.4× · PEG — 35% evidence 7.5/20 RS sector -23.1% · RS bench -1.9% · 1Y 22.8%2 of 12 weeks ahead 100% evidence
Exact sum: 34.1 + 22 + 10.4 + 7.5 = 74 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
3Divine Power Energy LtdDPEL 66.6/100Thin evidence · provisional53% evidence LEADER 22.0/35 Revenue — · PAT — · OPM change 5 pp 26% evidence 17.1/25 ROCE 29.1% · OPM 10% 95% evidence 10.0/20 P/E 52.2× · PEG — 0% evidence 17.5/20 RS sector 33.1% · RS bench 58.3% · 1Y 318.4%10 of 12 weeks ahead 100% evidence
Exact sum: 22 + 17.1 + 10 + 17.5 = 66.6 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
05 · what price has already done

Market action

Divine Power Energy Ltd has the strongest one-year price move in Metals at +318.4%. It also leads on Mansfield relative strength against NIFTY at +58.3%. 2 of 3 covered companies are above zero on that measure. Every line covers 313 weekly closes through 2026-07-31.

Price and relative strength

Every company, the sector's own index and NIFTY 500 all start level on the left edge of the window, so only the distance between the lines counts — the highest line has risen the most since then, and the chart at the top of this page is drawn the same way. It opens on one year; the buttons beside it stretch that to three or five.

06 · compare level, then change

Revenue Scale & Growth Durability

Hindustan Zinc Ltd has the highest Revenue among the 3 Metals companies compared here, at ₹46,820 crore. Hindustan Copper Ltd is next at ₹3,077 crore. Hindustan Copper Ltd has the highest Revenue growth at 48.6%, so level and change sit with different companies. 2 of 3 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: Hindustan Zinc Ltd is the scale leader at ₹46,820 crore, 15.2× the revenue of Hindustan Copper Ltd. Hindustan Copper Ltd's growth is 48.6% from a ₹3,077 crore base, with 19 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

LeaderHindustan Zinc Ltd · ₹46,820 crore
Gap15.2× versus #2 · Hindustan Copper Ltd
Persistence7/8 recent comparable periods
Coverage2/3 companies · 40 observations

Investor read: Hindustan Zinc Ltd is the scale benchmark; Hindustan Copper Ltd is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

This conclusion weakens if: Hindustan Zinc Ltd's growth falls below Hindustan Copper Ltd's for two consecutive comparable reports while operating margin also compresses.

Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.
Revenuelargest
1Hindustan Zinc Ltd HINDZINC₹46.8K Cr
2Hindustan Copper Ltd HINDCOPPER₹3.1K Cr
Revenue growthfastest growers
1Hindustan Copper Ltd HINDCOPPER49%
2Hindustan Zinc Ltd HINDZINC39%
Revenue · company comparison
2/3 level · 2/3 change

On every company-comparison chart on this page: solid lines show level, dotted lines show change when “Both” is selected, and a missing report breaks the line rather than being invented.

All-company data · latest reported quarter

In every all-company table on this page, each figure is the company’s latest single reported quarter. The rankings above them use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyRevenueRevenue growthReported
Hindustan Zinc Ltd HINDZINC₹13.7K Cr77%Jun 2026
Hindustan Copper Ltd HINDCOPPER₹1.2K Cr58%Mar 2026
Divine Power Energy Ltd DPEL⚠ unverified₹346 Cr75%Mar 2026
Full 20-quarter history · every available company

Revenue · reported quarter history

Divine Power Energy Ltd · DPEL⚠ unverified

₹103 Cr
₹119 Cr
₹144 Cr
₹198 Cr
₹279 Cr
₹346 Cr

Hindustan Copper Ltd · HINDCOPPER

₹464 Cr
₹544 Cr
₹545 Cr
₹348 Cr
₹212 Cr
₹557 Cr
₹560 Cr
₹371 Cr
₹381 Cr
₹399 Cr
₹565 Cr
₹494 Cr
₹518 Cr
₹328 Cr
₹731 Cr
₹516 Cr
₹718 Cr
₹687 Cr
₹1.2K Cr

Hindustan Zinc Ltd · HINDZINC

₹7.9K Cr
₹8.5K Cr
₹7.3K Cr
₹6.8K Cr
₹7.3K Cr
₹7.5K Cr
₹8.1K Cr
₹8.3K Cr
₹8.6K Cr
₹9.1K Cr
₹7.8K Cr
₹8.5K Cr
₹11.0K Cr
₹13.5K Cr
₹13.7K Cr

Revenue growth · reported quarter history

Divine Power Energy Ltd · DPEL⚠ unverified

40%
66%
94%
75%

Hindustan Copper Ltd · HINDCOPPER

30%
-54%
2.4%
2.8%
6.6%
80%
-28%
0.9%
33%
36%
-18%
29%
4.5%
39%
109%
58%

Hindustan Zinc Ltd · HINDZINC

-7.1%
-11%
12%
22%
18%
20%
-4.4%
3.6%
27%
49%
77%
07 · compare level, then change

Operating Economics & Margin Trend

Hindustan Zinc Ltd has the highest OPM among the 3 Metals companies compared here, at 59%. Hindustan Copper Ltd is next at 54%. Hindustan Copper Ltd has the highest Margin change at +18 percentage points, so level and change sit with different companies. 3 of 3 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: Hindustan Zinc Ltd leads opm at 59%; Hindustan Copper Ltd leads margin change at +18 percentage points.

LeaderHindustan Zinc Ltd · 59%
Gap9.3% versus #2 · Hindustan Copper Ltd
Persistence8/8 recent comparable periods
Coverage3/3 companies · 45 observations

Investor read: Hindustan Zinc Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current margin change signal.

Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.
OPMhighest
1Hindustan Zinc Ltd HINDZINC59%
2Hindustan Copper Ltd HINDCOPPER54%
3Divine Power Energy Ltd DPEL⚠ unverified10%
Margin changefastest expanders
1Hindustan Copper Ltd HINDCOPPER+18.0 pp
2Hindustan Zinc Ltd HINDZINC+9.0 pp
3Divine Power Energy Ltd DPEL⚠ unverified+5.0 pp
Operating margin · company comparison
3/3 level · 3/3 change
All-company data · latest reported quarter
CompanyOPMMargin changeReported
Hindustan Zinc Ltd HINDZINC59%+9.0 ppJun 2026
Hindustan Copper Ltd HINDCOPPER54%+18.0 ppMar 2026
Divine Power Energy Ltd DPEL⚠ unverified10%+5.0 ppMar 2026
Full 20-quarter history · every available company

OPM · reported quarter history

Divine Power Energy Ltd · DPEL⚠ unverified

6.0%
7.0%
7.0%
5.0%
6.0%
10%

Hindustan Copper Ltd · HINDCOPPER

23%
24%
28%
36%
30%
20%
33%
25%
32%
27%
40%
38%
29%
33%
36%
41%
39%
50%
54%

Hindustan Zinc Ltd · HINDZINC

54%
55%
56%
55%
53%
47%
50%
46%
46%
48%
48%
49%
50%
52%
53%
50%
52%
55%
57%
59%

Margin change · reported quarter history

Divine Power Energy Ltd · DPEL⚠ unverified

+1.0 pp
−2.0 pp
−1.0 pp
+5.0 pp

Hindustan Copper Ltd · HINDCOPPER

−2.4 pp
−16.2 pp
+22.1 pp
−8.9 pp
+7.2 pp
−4.2 pp
+5.1 pp
−11.0 pp
+1.8 pp
+7.0 pp
+7.0 pp
+13.0 pp
−3.0 pp
+6.0 pp
−4.0 pp
+3.0 pp
+10.0 pp
+17.0 pp
+18.0 pp

Hindustan Zinc Ltd · HINDZINC

+2.3 pp
+0.5 pp
+0.6 pp
+0.2 pp
−1.6 pp
−7.7 pp
−6.4 pp
−8.7 pp
−6.9 pp
+1.0 pp
−2.0 pp
+3.0 pp
+4.0 pp
+4.0 pp
+5.0 pp
+1.0 pp
+2.0 pp
+3.0 pp
+4.0 pp
+9.0 pp
08 · compare level, then change

Profit Scale & Acceleration

Hindustan Zinc Ltd has the highest Net profit among the 3 Metals companies compared here, at ₹17,067 crore. Hindustan Copper Ltd is next at ₹918 crore. Hindustan Copper Ltd has the highest Profit growth at 97.4%, so level and change sit with different companies. 2 of 3 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: Hindustan Zinc Ltd leads with ₹17,067 crore of TTM profit, 18.6× the profit of Hindustan Copper Ltd. Hindustan Copper Ltd shows 97.4% growth from a ₹918 crore profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

LeaderHindustan Zinc Ltd · ₹17,067 crore
Gap18.6× versus #2 · Hindustan Copper Ltd
Persistence7/8 recent comparable periods
Coverage2/3 companies · 40 observations

Investor read: Hindustan Zinc Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.
Net profitlargest
1Hindustan Zinc Ltd HINDZINC₹17.1K Cr
2Hindustan Copper Ltd HINDCOPPER₹918 Cr
Profit growthfastest growers
1Hindustan Copper Ltd HINDCOPPER97%
2Hindustan Zinc Ltd HINDZINC67%
Net profit · company comparison
2/3 level · 2/3 change
All-company data · latest reported quarter
CompanyNet profitProfit growthReported
Hindustan Zinc Ltd HINDZINC₹5.5K Cr145%Jun 2026
Hindustan Copper Ltd HINDCOPPER₹444 Cr137%Mar 2026
Divine Power Energy Ltd DPEL⚠ unverified₹19 Cr280%Mar 2026
Full 20-quarter history · every available company

Net profit · reported quarter history

Divine Power Energy Ltd · DPEL⚠ unverified

₹2 Cr
₹4 Cr
₹4 Cr
₹5 Cr
₹8 Cr
₹19 Cr

Hindustan Copper Ltd · HINDCOPPER

₹68 Cr
₹172 Cr
₹89 Cr
₹57 Cr
₹26 Cr
₹80 Cr
₹132 Cr
₹47 Cr
₹61 Cr
₹63 Cr
₹124 Cr
₹113 Cr
₹102 Cr
₹63 Cr
₹187 Cr
₹134 Cr
₹184 Cr
₹156 Cr
₹444 Cr

Hindustan Zinc Ltd · HINDZINC

₹2.2K Cr
₹2.6K Cr
₹2.0K Cr
₹1.7K Cr
₹2.0K Cr
₹2.0K Cr
₹2.3K Cr
₹2.3K Cr
₹2.7K Cr
₹3.0K Cr
₹2.2K Cr
₹2.6K Cr
₹3.9K Cr
₹5.0K Cr
₹5.5K Cr

Profit growth · reported quarter history

Divine Power Energy Ltd · DPEL⚠ unverified

100%
25%
100%
280%

Hindustan Copper Ltd · HINDCOPPER

24%
-62%
-53%
48%
-18%
135%
-21%
-6.1%
140%
67%
0.0%
51%
19%
80%
148%
137%

Hindustan Zinc Ltd · HINDZINC

-5.9%
-21%
19%
35%
32%
47%
-4.7%
14%
46%
68%
145%
09 · compare level, then change

Return On Capital Employed

Hindustan Zinc Ltd has the highest ROCE among the 3 Metals companies compared here, at 69.5%. Hindustan Copper Ltd is next at 42.5%. Divine Power Energy Ltd has the highest ROCE change at +12.5 percentage points, so level and change sit with different companies. 3 of 3 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: Hindustan Zinc Ltd leads ROCE at 69.5%, 27 percentage points above Hindustan Copper Ltd. Divine Power Energy Ltd has the strongest latest improvement at +12.5 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability.

LeaderHindustan Zinc Ltd · 69.5%
Gap63.5% versus #2 · Hindustan Copper Ltd
PersistenceNot enough history
Coverage3/3 companies · 20 observations

Investor read: Hindustan Zinc Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roce change signal.

ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.
ROCEhighest
1Hindustan Zinc Ltd HINDZINC70%
2Hindustan Copper Ltd HINDCOPPER43%
3Divine Power Energy Ltd DPEL⚠ unverified29%
ROCE changefastest improvers
1Divine Power Energy Ltd DPEL⚠ unverified+12.5 pp
2Hindustan Copper Ltd HINDCOPPER+12.3 pp
3Hindustan Zinc Ltd HINDZINC+9.0 pp
Return on capital · company comparison
3/3 level · 3/3 change

Withheld from this chart: Hindustan Zinc Ltd (HINDZINC) — its two data sources disagree by up to 3.3% on reported income across 14 comparable periods, so its derived ratios are withheld. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.

All-company data · latest reported quarter
CompanyROCEROCE changeReported
Hindustan Copper Ltd HINDCOPPER33%+12.3 ppMar 2026
Divine Power Energy Ltd DPEL⚠ unverified29%+12.5 ppMar 2026
Full 20-quarter history · every available company

ROCE · reported quarter history

Divine Power Energy Ltd · DPEL⚠ unverified

19%
44%
30%
17%
19%
29%

Hindustan Copper Ltd · HINDCOPPER

23%
19%
17%
18%
18%
15%
21%
20%
22%
20%
23%
23%
31%
33%

ROCE change · reported quarter history

Divine Power Energy Ltd · DPEL⚠ unverified

+11.6 pp
−27.0 pp
−11.0 pp
+12.5 pp

Hindustan Copper Ltd · HINDCOPPER

−5.9 pp
−1.3 pp
−1.4 pp
+2.5 pp
+3.6 pp
+5.0 pp
+2.6 pp
+2.6 pp
+9.2 pp
+12.3 pp
10 · compare level, then change

Valuation Against Growth & Quality

Hindustan Copper Ltd has the lowest PEG among the 3 Metals companies compared here, at 1.97×. Hindustan Zinc Ltd has the lowest P/E at 13.4×, so level and change sit with different companies. 1 of 3 companies report a comparable reading, the latest through Mar 2026. Its PEG series carries 9 reported observations across the 20-quarter window.

What the numbers say: Hindustan Copper Ltd has the lowest comparable PEG at 1.97×. Only 1 of 3 companies have earnings and growth steady enough for the ratio to mean anything, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.

LeaderHindustan Copper Ltd · 1.97×
GapNot enough peers
Persistence0/8 recent comparable periods
Coverage1/3 companies · 9 observations

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/e signal.

PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is recomputed consistently as the trailing P/E divided by that growth rate — reported earnings, never an expected-earnings multiple. On Indian companies it is shown only where the two data feeds agreed. Where any of that fails the ratio is left out rather than printed: a P/E divided by a loss, or by growth measured off a tiny base, is a number that looks precise and means nothing.
PEGlowest PEG
1Hindustan Copper Ltd HINDCOPPER2.0
P/Elowest P/E
1Hindustan Zinc Ltd HINDZINC13.4
2Hindustan Copper Ltd HINDCOPPER48.1
3Divine Power Energy Ltd DPEL⚠ unverified52.2
Valuation · company comparison
1/3 level · 3/3 change
All-company data · latest reported quarter
CompanyPEGP/EReported
Hindustan Copper Ltd HINDCOPPER2.065.2Mar 2026
Hindustan Zinc Ltd HINDZINC15.9Jun 2026
Divine Power Energy Ltd DPEL⚠ unverified235.3Mar 2026
Full 20-quarter history · every available company

PEG · reported quarter history

Hindustan Copper Ltd · HINDCOPPER

1.2
0.9
4.4
3.4
2.4
1.6
3.1
1.8
2.0

P/E · reported quarter history

Divine Power Energy Ltd · DPEL⚠ unverified

40.5
73.5
131.5
235.3

Hindustan Copper Ltd · HINDCOPPER

82.3
64.3
45.3
22.0
26.8
30.9
37.7
37.9
55.0
82.7
88.5
104.5
92.1
61.7
53.1
57.4
62.0
81.0
65.2

Hindustan Zinc Ltd · HINDZINC

16.4
10.7
10.5
11.9
11.4
12.3
13.9
15.9
14.9
36.5
27.2
21.8
20.7
18.3
18.4
25.5
18.3
15.9
11 · before the conclusion, check the blind spots

What can make this comparison misleading?

This Metals comparison names 7 specific ways its own evidence can mislead, all listed below. All 3 companies here report on comparable dates, so no rank carries a stale marker. 1 draws at least one figure from a second feed with too little overlap to cross-check. 1 has second-feed figures withheld because the two sources disagree.

Keep these limits visible

  • A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
  • A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment.
  • The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
  • An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
  • 1 company draws at least one figure from a second data feed with too little overlapping history to cross-check against the primary source; it is marked unverified wherever that figure appears.
  • 1 company is missing from the second-feed metrics by decision, not by absence: the two sources disagree, so nothing from the second is drawn. Read those rows as narrower evidence, never as a weaker business.
  • Thin comparisons: Revenue, Net profit, Valuation have fewer than three usable current readings.
12 · evidence and freshness

How was this comparison built?

This comparison is built from the reported filings of 3 Metals companies, normalized to a common ₹ scale and a shared quarter axis of up to 20 quarters each. Fundamentals run through Jun 2026 and market data through 2026-07-31. A second data feed fills gaps only after identity and scale reconciliation, and missing observations are never interpolated.

FundamentalsThrough Jun 2026 · up to 20 quarters per company
Market dataThrough 2026-07-31 · weekly price and relative-strength history
Derived metricsGrowth, changes and PEG are calculated only when their inputs are comparable.
Score confidenceMissing and stale evidence reduces confidence and pulls the 0–100 research-priority score toward neutral.
Source standing1 cross-checked · 1 unverified · 1 withheld, of 3 graded companies.
How a second data feed is admitted, and what happens when it disagrees

A second feed is read only after its reported income is matched against the primary source on at least three overlapping periods. Where the two agree the figures fill silently. Where there is too little shared history to compare, the figures are still drawn — they are the only evidence there is — and marked ⚠ unverified everywhere they appear. Where the two are known to disagree, nothing from the second feed is drawn and the affected company is named under the chart it is missing from.

13 · questions investors ask, short speakable answers

Metals company comparison FAQs

These 23 answers restate the Metals comparison above in question form. Every one is computed from the same 3 companies and the same reported filings as the rankings and charts, current through Jun 2026. Price and relative-strength answers run through 2026-07-31. Nothing here is estimated, and none of it is a recommendation.

Is the Metals sector outperforming NIFTY 500?

Metals has outperformed NIFTY 500 by 132.6% over 52 weeks and 3.3% over 13 weeks. 2 of 3 covered companies beat NIFTY on Mansfield relative strength, while 1 of 3 beat the sector itself.

Which Metals company is largest by revenue?

Hindustan Zinc Ltd leads with revenue of ₹46,820 crore, based on 2 of 3 comparable companies through Jun 2026.

Which Metals company is growing fastest?

Hindustan Copper Ltd has the fastest current revenue growth at 48.6%, across 2 of 3 comparable companies.

Which Metals company has the strongest 4-Factor Sector Score?

Hindustan Copper Ltd ranks first at 75.9/100 with 86.6% evidence confidence. The score prioritizes research; it is not a buy recommendation.

Which Metals company has the lowest comparable PEG?

Hindustan Copper Ltd has the lowest comparable PEG at 1.97, among 1 of 3 companies whose earnings and growth are steady enough for the ratio to mean anything.

How much history does this Metals comparison include?

The page compares up to 20 reported quarters per company for fundamentals, returns and valuation, ending Jun 2026. Missing observations remain blank rather than being estimated.

How is the 4-Factor Sector Score calculated?

The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.

What is the Nifty Metals index?

The Nifty Metals index tracks India's listed Metals companies as a single basket. This page follows the same 3 companies and equal-weights them, so every company's weekly return counts once whatever it is worth, and the reading belongs to the Metals sector rather than to its largest constituent. Figures are as of Jun 2026.

Which are the best Metals stocks in India?

Ranked by this page's four-factor score, Hindustan Copper Ltd places first among 3 listed Metals companies, followed by Hindustan Zinc Ltd. That is a ranking of published data — earnings, quality, valuation and market behaviour as of Jun 2026 — and not a recommendation; Sector Alpha is not registered with SEBI as an investment adviser.

How many Metals stocks are listed in India?

This comparison covers 3 listed Metals companies in India, each above the size floor the site applies, with 20 quarters of reported figures per company where the filings exist. The full ranked list is on this page, as of Jun 2026.

Which Metals company is the biggest?

Hindustan Zinc Ltd is the largest, with trailing-twelve-month revenue of ₹46,820 crore, ahead of Hindustan Copper Ltd at ₹3,077 crore. That covers 2 of 3 companies with comparable reporting through Jun 2026.

Which Metals company has the best profit margins?

Hindustan Zinc Ltd has the highest operating margin at 59%, from 3 of 3 comparable companies. Hindustan Copper Ltd shows the biggest recent improvement, at +18 percentage points. A high margin matters most when it is holding or rising, not when it is peaking.

Which Metals company makes the most profit?

Hindustan Zinc Ltd earns the most, at ₹17,067 crore of trailing-twelve-month net profit, from 2 of 3 comparable companies. Hindustan Copper Ltd has the fastest profit growth at 97.4%, though growth off a small or recovering profit base overstates how much has actually changed.

Which Metals company earns the highest return on capital?

Hindustan Zinc Ltd leads on return on capital employed at 69.5%, across 3 of 3 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.

Which Metals stock is the cheapest?

On PEG — where a LOWER number is cheaper — Hindustan Copper Ltd screens cheapest at 1.97×. Only 1 of 3 companies have earnings and growth steady enough for the ratio to mean anything, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.

Is the Metals sector beating the market?

Metals has outperformed NIFTY 500 by 132.6% over the last 52 weeks and 3.3% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 2 of 3 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it.

Which Metals stock has the strongest price momentum?

Divine Power Energy Ltd has the strongest relative strength against NIFTY 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.

Which Metals company scores highest for research priority?

Hindustan Copper Ltd scores 75.9 out of 100 with 86.6% evidence confidence, from 32.8 points on growth and earnings, 24 on capital efficiency, 9.9 on valuation and 9.2 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.

How many Metals companies does this comparison cover, and over what period?

It compares 3 listed companies over up to 20 reported quarters of fundamentals, ending Jun 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.

What is the total market cap of the Metals sector?

The 3 Metals companies on this page carry ₹2,76,762 crore of combined market value. Hindustan Zinc Ltd is the largest at ₹2,27,829 crore, about 82% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-08-05.

How is the Metals sector performing?

2 of the 3 covered Metals companies are beating NIFTY 500 on Mansfield relative strength. The sector itself is 132.6% ahead of NIFTY 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-08-05.

Why are some values on this page blank?

A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.

Is this investment advice?

No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.

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