Shares of major Indian metal companies, including Vedanta and Hindustan Zinc, experienced a notable decline on May 15, 2026, dropping up to 4% during the trading session. This dip was attributed to profit-booking activities among non-ferrous metal majors, even as the broader metal sector indices continued their impressive record run.
Vedanta and Hindustan Zinc See Declines
Vedanta shares fell by 4.10% to Rs 325, down from their previous close of Rs 338.90. Similarly, Hindustan Zinc shares slipped 3.75%, trading at Rs 644.15 against a previous close of Rs 669.10.
Vedanta, the parent company of Hindustan Zinc, had seen its stock gain over the last four sessions. This positive momentum was partly fueled by the government's decision to raise import duties on precious metals like gold and silver from 9% to 15%. Hindustan Zinc is India's largest primary silver producer, primarily extracting refined silver with a purity of at least 99.9% from its Sindesar Khurd mine in Rajasthan. Any favorable developments for Hindustan Zinc often positively impact sentiment surrounding Vedanta's stock.
Broader Metal Market Context
Despite the individual stock dips, the overall BSE metal index soared to a record high of 44,569 in early morning deals on the same day. However, it later pared some gains, slipping 158 points to trade at 44,104. The Nifty metal index also reached a record high of Rs 13,628 before trading with minor losses, down 78 points at 13,483. The declines in Vedanta and Hindustan Zinc shares suggest a selective profit-taking trend within a generally strong metal market.