Mining Stocks and Companies in India

The largest Mining stocks in India by market value are Coal India (₹2.47 lakh crore), Vedanta (₹1.02 lakh crore) and KIOCL (₹20,344 crore), at prices of 6 Nov 2026.

• Coal India: ₹400 | market value ₹2.47 lakh crore | P/E 7.4
• Vedanta: ₹261.75 | market value ₹1.02 lakh crore | P/E 7.7
• KIOCL: ₹334.75 | market value ₹20,344 crore | P/E 523.5
• Bharat Coking Coal: ₹31.56 | market value ₹14,698 crore | P/E 244.3
• GMDC: ₹463.70 | market value ₹14,745 crore | P/E 23.7
• Indian Metals & Ferro Alloys: ₹1,106.50 | market value ₹5,970 crore | P/E 11.4
• MOIL: ₹215.71 | market value ₹4,390 crore | P/E 17.0
• Ashapura Minechem: ₹416.30 | market value ₹3,977 crore | P/E 9.7
• Midwest Energy: ₹261.75 | market value ₹3,395 crore | P/E 605.3
• Caliber Mining and Logistics: ₹520.15 | market value ₹3,400 crore | P/E 21.7

The other 4 Mining companies are in the full list below.

Share price | market value | P/E, biggest first. Prices, market values and ratios at the official close of 6 Nov 2026; the score list below uses the weekly figures.

Ranked by the 4-Factor Sector Score (growth & earnings 35, capital efficiency 25, valuation 20, relative strength 20). Prices as of 30 Oct 2026.

All 14 listed Indian Mining/Minerals companies are named here, largest first. This is the set of companies people mean when they search for a Nifty Mining/Minerals index; NSE publishes its own indices only for the largest sectors, so this equal-weighted set stands in for one. Every figure is equal-weighted across those companies and carries its own as-of date.

1. Coal India Ltd₹2.4 lakh cr
2. Vedanta Ltd₹93,000 cr
3. KIOCL Ltd₹19,700 cr
4. Bharat Coking Coal Ltd₹13,800 cr
5. Gujarat Mineral Development Corporation Ltd₹13,100 cr
6. Indian Metals & Ferro Alloys Ltd₹5,890 cr
7. MOIL Ltd₹4,450 cr
8. Ashapura Minechem Ltd₹3,900 cr
9. Midwest Energy Ltd₹3,540 cr
10. Caliber Mining and Logistics Ltd₹3,460 cr
11. Deccan Gold Mines Ltd₹3,220 cr
12. Orissa Minerals Development Company Ltd₹1,900 cr
13. South West Pinnacle Exploration Ltd₹572 cr
14. 20 Microns Ltd₹570 cr

14 Mining companies in the Mining/Minerals industry group have a page on Sector Alpha, by market value as of 30 October 2026, and all 14 are listed below, largest first. The largest is Coal India (₹2.4 lakh crore) and the smallest with a market value is 20 Microns.

Download all 14 Mining companies (CSV)

The line below covers up to 5.2 years and opens on the 5Y view; the buttons cut it shorter. Over the last two years (104 weeks) this sector is 51% ahead of NIFTY 500. Earnings across its companies grew 11% on average over the last four reported quarters.

Price and the fundamentals both up. 0 of the 13 companies with a long enough price record pass the momentum test (5+ points ahead of the Nifty 500 over 3 months, within 20% of the 52-week high).

Not ahead of NIFTY 500 on the three-month view this week; 0 of the 13 companies in the industry index above their 200-day average (2 fewer than four weeks earlier); 0 of those 13 pass the momentum test (1 fewer than four weeks earlier); earnings rising at 10 of the 13 that report earnings.

Participation is shrinking, 1 → 0 of 13 over four weeks, after being ahead of NIFTY 500. Price-only fade, 10 of 13 members have higher trailing twelve-month earnings than a year ago, so the fade is in the price, not in the earnings.

Both lines start at 200 in the same week, so the gap between them tells the story: the sector line is an equal-weighted index of 13 of its 14 companies (the 1 with too short a price record are ranked in the scorecard but cannot sit in this line). The bars underneath are trailing 12-month earnings per share, one bar per reported quarter, each member set to 100 at the start and the sector taking the middle value, so a price line pulling away from flat bars means the market is paying more for the same earnings. A bar turns grey when that figure is lower than the quarter before. The rules are fixed and the same 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 or tap any point to read both values and the gap.

Mining/Minerals has done better than the NIFTY 500 by 2.9% over the last 52 weeks. Over 13 weeks the gap is a shortfall of 12.4%. Vedanta Ltd is the strongest against the sector itself at +8.2%.

Mining/Minerals has done better than the NIFTY 500 by 2.9% over 52 weeks, but is 12.4% behind over the last 13 weeks. 0 of 14 companies we track are beating the NIFTY on relative strength (how a share price has done against the index over recent months) (3 have no relative-strength reading yet), and 2 of the 6 with a long enough price history are ahead of the industry itself.

A score that ranks each company against the others in its industry. The four parts shown always add up to the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or old evidence affects only its own part, never as a hidden adjustment.

South West Pinnacle Exploration Ltd has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 95.6% evidence confidence.

Ranked last: too little evidence (3 companies)

Under 60% of the evidence behind these scores is available, so they rank after every company above, whatever the score.

Vedanta Ltd has the strongest one-year price move in Mining/Minerals at +33.0%. Deccan Gold Mines Ltd leads on relative strength against the NIFTY, at +11.5%. 1 of 14 companies we track is ahead of the index on that measure (3 have no relative-strength reading yet). Every line covers 313 weekly closes through 30 October 2026.

Price and relative strength

Price · same starting point: 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.

RS vs NIFTY 500: How far ahead of or behind NIFTY 500 each company has been running, measured against its own recent average of that comparison, so the flat line at zero IS NIFTY 500: above it the company is beating the market, below it the market is beating the company. It opens on one year.

RS vs sector: The same measure taken against Mining/Minerals itself instead of the whole market, so the flat line at zero is the sector: above it the company is beating its own peers, which is the sharper test of the two. It opens on one year.

Biggest one-year moves

Strongest against NIFTY 500

Strongest against the sector itself

2 of 14 Mining/Minerals companies held a results call for July to September 2026. 20 Microns guided: H2 revenue and operating performance to be better than H1 with Q3 similar to Q2 and Q4 seasonally strongest.

From the results calls for July to September 2026.

Big funds, foreign and Indian, kept their stake about the same over the last two quarters. Founders and promoters cut theirs by 0.7 points.

• Spending on new plants and equipment was ₹60,780 crore in the last 12 months, 79% more than a year before.
• Projects still being built shrank 35% in a year.

Big funds = foreign and Indian institutions, change in their share of ownership across 14 Mining/Minerals companies, in percentage points.

Ownership and spending as of 10 October 2026.

This is the written read behind the Mining/Minerals figures above: what is actually happening in the industry, in words, with the evidence each claim rests on. It is dated 22 Jul 2026, so the words are older than the numbers. 5 themes are live here, 1 of them rated high severity.

The Mining/Minerals sector presents a mixed picture for the week ending 17 July 2026. VEDL delivered record financial performance with Q4 EBITDA of ₹18,447 crore, up 59% YoY, and a margin expansion to 44%. In contrast, COALINDIA missed full-year production goals at 768 MT versus 875 MT, with inventory building 21% to 129.96 MT.

How old this read is: OLD: this read comes from our Mining/Minerals sector brief dated 22 Jul 2026, about 4 months ago. The page says so rather than dressing it up, and a fresh sector dive replaces it the day it runs.

What is live in this sector right now

Sources: our Mining/Minerals sector brief, 22 Jul 2026 · company earnings-call transcripts.

Coal India Ltd has the highest Revenue among the 14 Mining/Minerals companies compared here, at ₹1,71,848 crore. Vedanta Ltd is next at ₹96,507 crore. Midwest Energy Ltd has the highest Revenue growth at the 100% top of the scoring scale, so level and change sit with different companies. Its Revenue series carries 17 reported observations across the 20-quarter window.

What the numbers say: Coal India Ltd is the largest at ₹1,71,848 crore, 78.1% ahead of Vedanta Ltd. Midwest Energy Ltd's growth is capped at 100% on the scoring scale; the full change over the last 12 months is 1865.9% from a ₹9 crore base, with 16 reported quarters out of the last 20. Fast growth from a smaller base is not yet the same as proven size.

What this means: Coal India Ltd is the size to compare against; Midwest Energy Ltd is the one growing fastest. The faster grower has to keep that growth and turn it into margin and returns before it counts as more than a fast start.

This conclusion weakens if: Coal India Ltd's growth falls below Midwest Energy 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.

Revenue · company comparison

Revenue · largest

Revenue growth · fastest growers

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.

Revenue shows both size and speed. A large company can absorb shocks and pay for wide distribution; faster growth can mean market-share gains, new capacity or stronger demand. The best sign is usually growth that lasts without hurting margins and returns.

Vedanta Ltd has the highest OPM among the 14 Mining/Minerals companies compared here, at 38%. Orissa Minerals Development Company Ltd is next at 31.5%. Deccan Gold Mines Ltd has the highest Margin change at +4414.3 percentage points, so level and change sit with different companies. 13 of 14 companies report a comparable reading, the latest through Sep 2026.

What the numbers say: Vedanta Ltd leads opm at 38%; Deccan Gold Mines Ltd leads margin change at +4414.3 percentage points.

What this means: Vedanta Ltd sets the level to compare against; the company improving fastest needs another report to confirm the change.

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.

Operating margin · company comparison

OPM · highest

Margin change · fastest expanders

All-company data · latest reported quarter

Coal India Ltd has the highest Net profit among the 14 Mining/Minerals companies compared here, at ₹33,471 crore. Vedanta Ltd is next at ₹31,279 crore. South West Pinnacle Exploration Ltd has the highest Profit growth at the 100% top of the scoring scale, so level and change sit with different companies.

What the numbers say: Coal India Ltd earns the most, ₹33,471 crore of profit over the last 12 months, 7% above Vedanta Ltd. South West Pinnacle Exploration Ltd shows at least 100% on the scoring scale (135.8% in full) growth from a profit base of ₹40 crore. A fast rate from a small base matters less than a large profit that keeps coming.

What this means: Coal India Ltd sets the level to compare against; the company improving fastest needs another report to confirm the change.

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 profit · company comparison

Net profit · largest

Profit growth · fastest growers

All-company data · latest reported quarter

Coal India Ltd has the highest ROCE among the 14 Mining/Minerals companies compared here, at 35%. Caliber Mining and Logistics Ltd is next at 21.2%. Orissa Minerals Development Company Ltd has the highest ROCE change at +48.8 percentage points, so level and change sit with different companies. 14 of 14 companies report a comparable reading, the latest through Sep 2026.

What the numbers say: Coal India Ltd leads ROCE at 35%, 13.8 percentage points above Caliber Mining and Logistics Ltd. A high return reported once may be one good year; a high return reported year after year shows a lasting business.

What this means: Coal India Ltd sets the level to compare against; the company improving fastest needs another report to confirm the change.

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.

Return on capital · company comparison

Withheld from this chart: Coal India Ltd (COALINDIA): its two data sources disagree by up to 86% on reported income across 16 comparable periods, so its derived ratios are withheld; Vedanta Ltd (VEDL): its two data sources disagree by up to 138% on reported income across 14 comparable periods, so its derived ratios are withheld; Bharat Coking Coal Ltd (BHARATCOAL): its two data sources disagree by up to 58% on reported income across 7 comparable periods, so its derived ratios are withheld; Ashapura Minechem Ltd (ASHAPURMIN): its two data sources disagree by up to 16% on reported income across 15 comparable periods, so its derived ratios are withheld; Deccan Gold Mines Ltd (DECNGOLD): its two data sources disagree by up to 89% on reported income across 15 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.

ROCE · highest

ROCE change · fastest improvers

All-company data · latest reported quarter

Indian Metals & Ferro Alloys Ltd has the lowest PEG among the 14 Mining/Minerals companies compared here, at 0.27×. South West Pinnacle Exploration Ltd is next at 1.26×. Vedanta Ltd has the lowest P/E at 7.05×, so level and change sit with different companies. 5 of 14 companies report a comparable reading, the latest through Sep 2026.

What the numbers say: Indian Metals & Ferro Alloys Ltd has the lowest comparable PEG at 0.27×, 78.6% below South West Pinnacle Exploration Ltd. That would need today's multiple, the company's own history and steady growth to agree.

What this means: A low valuation is a reason to look closer at the business, not a conclusion on its own.

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 worked out the same way every time, as the P/E on the last 12 months of reported earnings divided by that growth rate, never on expected earnings. 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.

Valuation · company comparison

Withheld from this chart: Deccan Gold Mines Ltd (DECNGOLD): its two data sources disagree by up to 89% on reported income across 15 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.

PEG · lowest PEG

P/E · lowest P/E

All-company data · latest reported quarter

Mining/Minerals companies show up on 8 of our India lists. The most are on the copper & metal stocks list (6 companies).

This Mining/Minerals comparison names 6 specific ways its own evidence can mislead, all listed below. All 14 companies here report on comparable dates, so no rank carries a stale marker. 1 uses at least one figure from a second source we could not check. 5 have second-source figures left out because the two sources disagree.

Keep these limits visible

• A high growth rate can come from a very small starting figure. The page keeps level and change separate for that reason.
• A high ROCE can be temporary, or look high because the capital base is small. It is best read beside margin, cash flow and how much is spent back on the business.
• The 4-Factor Sector Score ranks published data only. Management quality, upcoming events and risks are not part of it.
• 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 source that does not cover enough of the same periods to check against the main one; it is marked unverified wherever that figure appears.
• 5 companies are missing from the second-source figures on purpose: the two sources disagree, so nothing from the second is drawn. Those rows have less evidence; that does not make the business weaker.

This comparison is built from the reported filings of 14 Mining/Minerals companies, normalized to a common ₹ scale and a shared quarter axis of up to 20 quarters each. Fundamentals run through Sep 2026 and market data through 30 October 2026.

1 of 14 companies draws at least one figure from a second data feed that could not be cross-checked against the primary source, because the two do not share enough reported history to compare. Those figures are marked unverified wherever they appear.

5 of 14 companies have a second data feed that is known to disagree with the primary source, so nothing from it is drawn: Coal India Ltd (COALINDIA): its two data sources disagree by up to 86% on reported income across 16 comparable periods, so its derived ratios are withheld; Vedanta Ltd (VEDL): its two data sources disagree by up to 138% on reported income across 14 comparable periods, so its derived ratios are withheld; Bharat Coking Coal Ltd (BHARATCOAL): its two data sources disagree by up to 58% on reported income across 7 comparable periods, so its derived ratios are withheld; Ashapura Minechem Ltd (ASHAPURMIN): its two data sources disagree by up to 16% on reported income across 15 comparable periods, so its derived ratios are withheld; Deccan Gold Mines Ltd (DECNGOLD): its two data sources disagree by up to 89% on reported income across 15 comparable periods, so its derived ratios are withheld.

These 24 answers restate the Mining/Minerals comparison above in question form. Every one is computed from the same 14 companies and the same reported filings as the rankings and charts, current through Sep 2026. Price and relative-strength answers run through 30 October 2026. Nothing here is estimated, and none of it is a recommendation.