Metal Stocks in Focus: JSW Steel Plans Mozambique Coal Mine, Jindal Stainless Faces Fuel Constraints, Hindalco Clarifies Operations
Shares of major metal companies including JSW Steel, Jindal Stainless, and Hindalco Industries are expected to remain in focus on Monday, March 16, following company-specific developments and operational updates.JSW Steel Plans Coking Coal Mine Development in Mozambique
JSW Steel is likely to attract investor attention after announcing plans to develop a coking coal mine in Mozambique.According to the company, the proposed project is estimated to contain around 850 million tonnes of coal reserves and could potentially produce about 250 million tonnes of usable coking coal. The development is expected to strengthen the company’s access to a key raw material used in steel production.
Despite the announcement, JSW Steel shares ended Friday’s session down 4.49% at ₹1,120. The stock has declined more than 4% so far in 2026.
Jindal Stainless Flags Fuel Availability Issues
Jindal Stainless said that stainless steel manufacturing relies heavily on industrial gases such as propane, LPG, and natural gas.The company stated that limited fuel availability has forced some of its plants to operate at reduced capacity. It has also sought clarification regarding industrial fuel allocation.
In addition, the company highlighted that disruptions in global shipping routes are affecting logistics. These disruptions are causing vessel diversions, longer transit times, and cargo delays, which are adding pressure on supply chains and margins.
Meanwhile, the promoter group purchased 6.92 lakh shares of Jindal Stainless on March 11 and March 12, 2026.
The company’s shares closed 5.23% lower at ₹707.60 on Friday and the stock has declined 17% so far in 2026.
Hindalco Industries Denies Halt in Aluminum Extrusion Operations
Hindalco Industries issued a clarification regarding a recent report that suggested disruptions in its aluminum extrusion business.The company stated that its aluminum extrusion operations have not been halted. It added that even if supply disruptions occur, the potential impact would affect less than 0.1% of its overall operations.
Earlier, a report had stated that the company informed customers about suspending sales of extruded aluminum products due to gas supply disruptions.
Hindalco Industries shares ended Friday’s session 6.07% lower at ₹910.90, although the stock has gained about 2% so far in 2026.
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