"The metal space emerged as the top-performing sector last calendar year. In the first 15 days of this year, again, the metal pack has outperformed every other index,” the market expert said.

Vedanta, Hindalco remain Arun Kejriwal's top two metal stock picks; shares view on IPO market

Market Veteran Sees Metal Sector as Top-Performing Space in 2026

Market veteran Arun Kejriwal has highlighted the metal sector as the top-performing space in 2026, continuing its momentum from last calendar year. Speaking to Business Today, Kejriwal noted that metals have again outpaced other indices in the early part of the year.

Strong Demand for Metals

The demand seen in gold and silver has spilled over to aluminium, copper, and zinc.
These metals are performing extremely well, with a rub-off effect even reaching steel.

Steel: A Laggard but Still a Safer Bet

While steel is a laggard compared to the remaining metals, it is trying to play catch-up. According to Kejriwal, steel is a safer bet, especially compared to gold and silver, which are getting into speculative realms.

Preferred Picks

Hindalco Industries Ltd: A play on aluminium and copper.
Vedanta Ltd: A play on aluminium, copper, and zinc, with some amount of play on silver.

Caution in the Primary Market

Commenting on the primary market, Kejriwal expressed caution, pointing to the performance of recent listings. He noted that more than 100 IPOs in 2025 failed to deliver despite hype, with issues ranging from 15 to 35 per cent below the issue price.

Kejriwal advised waiting for Q3 numbers to evaluate whether these companies have steam left. If they do, they would be at attractive prices. Post-Q3 would be an opportunity to relook at these stocks, which are currently well below the issue price.

Key Quotes

"The metal space emerged as the top-performing sector last calendar year. In the first 15 days of this year, again, the metal pack has outperformed every other index." - Arun Kejriwal
"While steel is a laggard compared to the remaining, it is trying to play catch-up. So there is value, and if you believe that you don't want to get into the speculative realm, which probably gold and silver are getting into, this is a safer bet and you can park some amount of money here." - Arun Kejriwal