Introduction
While the iron and steel sector in India offers immense growth potential, they are not the only metals you should take an interest in. To diversify your portfolio and realise the benefits of diverse sectors, it is worth considering non-ferrous metals. Non-ferrous metals include metals like aluminium, copper, zinc, and nickel that are prized for properties like conductivity, rusk resistance, and malleability. They have an increasing demand in industries construction, electronics, transportation, and automobile industries.
If you want to benefit from the potential of these metals, take a look at these top-ranking non-ferrous metal stocks in India in 2024:
A leading producer of zinc and silver in India, Hindustan Zinc Ltd is involved in extensive mining operations like exploration, manufacturing, extraction, as well as processing of metals. It has developed a strong market positioning over the years. This is evident in its market capitalisation of Rs. 2,14,730.71 as of 18th October 2024, while its dividend yield is 2.56% and return over one year of 58.22%.
Vedanta Ltd is a diversified natural resources company that focuses on the production of zinc, lead, silver, copper, iron ore, aluminium, oil, and gas. Its mining and metallurgical operations are extensive, which gives it a solid market presence. Its market capitalisation as of 18th October 2024 stands at Rs. 1.84 crores. Its return rate for 1 year is 105.28% and the dividend yield is 5.95%.
NALCO or National Aluminium Company Ltd is one of the largest integrated bauxite-alumina-aluminium complexes of not just India, but the entire of Asia. Located in Orissa, it is involved in the production and sale of aluminium products. Its market capitalisation as of 18th October 2024 is Rs. 41,355.44 crores with a dividend yield of 2.22% and a 1-year return rate of 126.07%.
Hindalco Industries Ltd is a part of Aditya Birla Group. It is a leading aluminium manufacturer in India, having a diversified portfolio that includes non-ferrous metals like aluminium sheets, foils, and rods. The market capitalisation of Hindalco Industries Ltd as of 18th October 2024 is at Rs. 1,65,080.53 crores with a dividend yield of 0.47% and a 1-year return rate of 51.70%.
Gravita India Ltd specialises in lead manufacturing and recycling. It has a diversified business model, which includes manufacturing lead and lead products and recycling lead-acid batteries. Its growth potential is showcased in its market capitalisation of Rs.17,244.29 crores, while it has offered a 152.52% return over the past year and a dividend yield of 0.21%.
Ram Ratna Wires Ltd is involved in the manufacturing and marketing of wire products. This primarily includes copper wires and cables. The company caters to various sectors, including electrical and electronics. With a market capitalisation of Rs. 2,977.7 as of 18th October 2024, Ram Ratna Wires Ltd offers great potential, a dividend yield of 0.74%, and a one-year return of 164.92%.
Shivalik Bimetal Controls Ltd specialises in bimetallic strips and thermostats, serving sectors like automotive and industrial applications. The company is likely to experience growth due to the evolving demand for automotive technologies and advanced thermal management solutions. Its market capitalisation of Rs.3,948.77 with a one-year return of 25.39% and a dividend yield of 0.25% is a testament to this.
Bharat Wire Ropes Ltd takes industries like construction, mining, shipping, and engineering with the production of steel wire ropes. The company has established a strong reputation for manufacturing high-quality products that meet stringent industry standards. The market capitalisation of this growing company is at Rs.1,716.7 crores with a one-year return of -9.28% and a dividend yield of 0.00% as of 18th October 2024. The returns may seem low, but being a contender for long-term growth, the company's vision makes up for it.
Cubex Tubings is a leading manufacturer and supplier of precision-engineered seamless and welded tubes and pipes. The company serves the automotive, construction, and industrial sectors, specialising in stainless steel and non-ferrous metal products. The market capitalisation of this company as of 18th October 2024 is at Rs.153.97 crores with a one-year return of 100.99% and a dividend yield of 0.00%.
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Conclusion
Investing in non-ferrous metals is a smart move if you are looking to diversify your portfolio in 2024. With a growing demand for metals like aluminium, copper, and zinc across various industries, these stocks present an exciting opportunity for growth.
Companies discussed above hold solid market positions and have a record of impressive returns over the years. While some stocks may show low returns currently, they are positioned for long-term success, which makes them worth considering. As you explore these options, remember to do your own research and understand the market trends.
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