Vedanta Group stocks are skyrocketing today as copper prices hit a fresh all-time high of $6.95 per pound and the central government announced incentive schemes for critical minerals, creating significant buzz for high beta stocks. Vedanta Iron and Steel shares opened upside and touched 5% upper circuit within minutes, while Vedanta Oil and Gas had a gap-up opening and was up more than 2%. Vedanta Power shares were trading around 6% upside, demonstrating broad-based strength across the group. As per LiveMint, Vedanta Group stocks are among the high-beta stocks of the Indian stock market and are expected to perform better when markets are in the bulls' favourite zone. The positive sentiment is attributed to fundamental triggers and the easing of Middle East tensions, with experts highlighting that Anil Agarwal's Vedanta Group stocks are rising due to the positive buzz on Dalal Street.
The positive sentiment in metal stocks is primarily driven by copper prices hitting a fresh all-time high of $6.95 per pound, rising around 4.6% in the last five market sessions amid persistent demand and production disruptions. According to The Economic Times, copper futures in the US have touched an all-time high, with lower copper production in major exporting countries like Indonesia and DRC due to operational incidents resulting in supply constraints. Copper futures have gained around 4.6% in the last five market sessions as of Wednesday, September 23, creating significant momentum for metal producers. Metal and mining companies benefit directly from these elevated price levels, as higher copper rates result in margin gains as companies sell production output at higher prices. The rise in copper prices is broadly positive for steel producers, as higher realisations can help offset the increase in coking-coal costs and support margins. Copper cathode inventories in Shanghai fell to 43,900 tonnes, the lowest since 2023, as reported by Bloomberg, while cancelled warrants in London rose to 122,150 tonnes, leaving 133,725 tonnes available according to MINING.COM data.
Michael Burry, the legendary investor who famously predicted the 2008 housing crisis, has disclosed a long position in copper producer Ero Copper, sparking hopes for a further rally in the red metal. As reported by The Economic Times, Burry, who rose to fame after correctly predicting the 2008 housing financial crisis, disclosed his fresh positions in copper contracts while highlighting that he is ignoring the "woo-hoos" of the AI party. "The house party is packed, pushing AI higher today, but I am largely ignoring the 'woo-hoos'. I am out in the backyard with my flashlight, seeking," he wrote. "I think of copper, and how it gets prettier as it ages." The Big Short-fame investor acknowledged that part of copper's rally reflected a temporary supply lull, with his longer-term thesis backed by the sharp mismatch between copper's demand and the time needed to develop new mines. Major copper discoveries with deposits containing at least 500,000 tonnes have fallen from double-digit annual totals in the 1990s and 2000s to one or two in recent years, with none in 2025, as cited by Yahoo Finance. Ero Copper shares rallied over 7% on Tuesday, following the ace investor's disclosure, demonstrating immediate market response to Burry's strategic positioning.
At the 60th AGM of the Federation of Indian Mineral Industries (FIMI), the Secretary of the Ministry of Mines, Keshav Chandra announced that the central government will soon announce an incentive scheme to boost domestic production of lithium and nickel. As reported by The Economic Times, this announcement acts as a positive momentum trigger for the entire metals and mining sector as the central government looks forward to boosting domestic productions amid elevated global commodity prices. The government's move aims to build a critical mineral value chain and reduce dependence on imports of these materials from foreign countries. Four states, namely Gujarat, Maharashtra, Odisha, and Andhra Pradesh, have successfully prepared for critical mineral processing, while the Mining Secretary raised concerns over mining blocks which remain non-operational. Copper prices on the London Metal Exchange (LME) have jumped 18% so far this year, with the red metal hitting a record peak of $14,875 on September 10 before slipping slightly due to tariff uncertainty. Copper futures have now risen above $6.70 per pound, marking a sixth consecutive session of gains as supply concerns continued to support prices, with traders waiting for signals after US President Donald Trump's meeting with Chinese President Xi Jinping.
Market experts are highlighting significant upside potential in Vedanta Group stocks amid current market conditions. Avinash Gorakshkar from Avinash Mentor Research emphasized that Vedanta Group stocks are among the high-beta stocks of the Indian market and are skyrocketing due to positive sentiments on Dalal Street amid buzz for the opening of the Strait of Hormuz. Anuj Gupta, a SEBI-registered market expert, noted that Vedanta Group shares are mainly in the metal and energy space, and as both segments are rising due to the easing tension in the Middle East, the entire Vedanta Group stocks are skyrocketing. For Vedanta Iron and Steel, experts suggest holding the scrip with a stop-loss below ₹30 for the immediate target of ₹38, with potential to touch ₹44 if the stock breaks above ₹38 on a closing basis. Fresh investors can buy Vedanta Iron and Steel shares at around ₹32 if there's a dip, with a short-term target of ₹38 and maintaining a stop-loss below ₹30. Copper is finding support from tightening physical market conditions in China, with falling inventories, seasonal restocking demand and constrained spot availability offsetting the stronger dollar and tariff uncertainty, as noted by ING commodities strategist Ewa Manthey.
Welspun Corp. emerged as the top performer with a 3.7% gain to ₹2,835, followed by Steel Authority of India (SAIL) at ₹178.91, up 2.8%, and Hindustan Copper at ₹521.30, gaining 2.5%. Other notable performers included Lloyds Metals at ₹1,908 (2.7%), Vedanta Ltd at ₹268.80 (2.2%), Jindal Steel at ₹1,160.70 (1.7%), and Hindustan Zinc at ₹602.80 (2%). As per The Economic Times, the Nifty Metal index rose 1.5% to touch an intraday high of 13,184.40 points on Wednesday's market, compared to 12,990.35 points at the previous equity market close. The Nifty Metal was trading 1.2% higher at 13,166 points during the trading session on September 23, with stocks like SAIL, Welspun Corp., Vedanta, and others leading the pack of gainers.
