Stocks to buy: Raja Venkatraman's top picks for 29 September
Market expert Raja Venkatraman shares his top three stock to buy today, 29 September. Discover his exclusive picks and analysis to inform your investment strategy.
Stock market recap: The benchmark equity indices — BSE Sensex and NSE Nifty — faced a massive selloff in trade on Friday, 26 September, extending losses to the sixth consecutive session as fresh US tariffs on pharma and relentless selling by foreign portfolio investors (FPIs) hurt investor sentiment.
Sensex crashed 800 points, or 0.98% to hit a low of 80,360 in the afternoon trade. The index finally settled the day at 80,426, down 733 points, or 0.90%.
Against this backdrop, market expert Raja Venkatraman has released his top metal stock picks for investors seeking opportunities today, 15 September. His analysis provides a clear roadmap for navigating the current market landscape with confidence.
Three stocks to trade, recommended by NeoTrader’s Raja Venkatraman:
Jindal Stainless Ltd (current price Rs 789.15) - Buy above ₹790 and dips to 760 with stop 740 target 850 - 870.
Why it’s recommended: Jindal Stainless Ltd (JSL) is India's largest stainless steel manufacturer and one of the top five globally. The company founded in 1970 as Jindal Strips Ltd, the company is part of the O.P. Jindal group and is headquartered in New Delhi.
Over the last few months, the prices have been forming a V shaped recovery pattern and generating a steady revival. The last push seen in the last few days have managed to create a 52 week high indicating the momentum is holding despite the market condition. With the ADX/DMI is continuing to push for more upside this counter can be considered as a continuation of positive sign of resumption.
Key metrics: P/E: 50.40, 52-week high: ₹2798, Volume(Week): 3.1M
- Technical analysis: Support at ₹650, resistance at ₹850.
- Risk factors: Volatile commodity prices, competition from low-cost imports, currency fluctuations affecting imports and exports.
- Buy: Above ₹790 and dips to ₹760.
- Target price: ₹850-870 in 2 months.
- Stop loss: ₹740.
Hindustan Copper (current price Rs 311.95) - Buy above ₹312 and dips to ₹290, stop loss ₹280, target ₹340-355
Why it’s recommended: Stocks from the metal industry have attracted buying attention in the recent days. This counter has managed to form a base at lower levels and on to key support zones around ₹220 and the prices quickly revived above the near-term resistance zone to head strongly higher in the latter half of this month. We can observe that there are sizeable volumes building up suggesting that the prices could now travel to the next resistance zone around ₹450. The demand at lower levels and a nice long body bullish candle does suggest more upside in the coming sessions.
Key metrics: P/E: 61.64, 52-week high: ₹352.60, Volume(Week): 156.19M
- Technical analysis: Support at ₹260, resistance at ₹450.
- Risk factors: Concerns over rising input costs, increasing competition from imports, and poor project planning.
- Buy: Above ₹312 and dips to ₹290.
- Target price: ₹340-355 in 2 months.
- Stop loss: ₹280.
Usha Martin (current price ₹448.90) - Buy above ₹450 and dips to ₹425, stop ₹415 target ₹488-505
Why it’s recommended: Usha Martin shares have been steadily moving higher over the last few weeks and now after stepping above the resistance zones around ₹420, the trends are staging an upward move. With long body candle forming last week trends are firmly hinting at some potential upside in the coming days. The prices are taking steady support at the cloud and the strong performance seen since last few days as per Ichimoku TS & KS lines are hinting at possible upward drift.
Key metrics: P/E: 44.97, 52-week high: ₹454.40, Volume(Week): 7.32M
- Technical analysis: Support at ₹393, resistance at ₹525.
- Risk factors: Raw material price volatility, foreign exchange risk and project execution risk.
- Buy: Above above ₹450 and dips to ₹425.
- Target price: ₹488-505 in 2 months.
- Stop loss: ₹415.
The metal sector in 2025 is witnessing rapid transformation, driven by strong domestic demand in India, major corporate actions, and a significant shift in global trade dynamics due to President Trump’s tariff policy. These trends shape both immediate profitability and long-term prospects for metal companies, especially in steel and aluminium.
Metal sector trends in 2025
India's metal sector is expanding briskly, with steel demand projected to grow by 8-9% in 2025—a pace that outperforms global averages. Key drivers include government infrastructure initiatives, urbanization, and increased consumption in construction, engineering, and automotive sectors. Pricing dynamics are shifting, with domestic prices supported by the prospect of safeguard duties on imports, which could boost margins and reduce pressure from cheap foreign supply.
Sustainability, decarbonization, and technological innovation are at the forefront, as firms like JSW Steel and Tata Steel invest in green steel production and international expansion.
Key corporate actions
The sector is marked by robust activity—dividend payouts, stock splits, bonus issues, and expansion plans abound in 2025. Companies such as Hindalco, Vedanta, Tata Steel, and SAIL have announced major capacity expansions, sustainability initiatives, and outward moves into segments like solar modules and renewable energy.
These actions are engineered to reward shareholders, strengthen capital structures, and position firms to capitalize on India's infrastructure-driven economic growth.
Impact of Trump’s tariffs
President Trump doubled Section 232 tariffs on steel and aluminium imports to 50% from June 2025, extending them to hundreds of product categories. This move escalates inflationary pressures and reconfigures global supply chains. While US producers benefit from reduced competition, exporters like India face tougher market access. Some niche products—such as high-value-added steels—may still retain entry, but Indian foundries and small ancillary units exporting to the US are hit hardest by lost competitiveness and shrinking margins.
European and Asian exporters now look to invest in US capacity or pivot to different markets, while Indian producers may focus more on domestic and non-US export opportunities.
Road ahead for metals
A robust demand outlook, impending safeguard measures, and ongoing corporate activity position India's metal sector for healthy growth through 2025 and beyond. The sector’s resilience will depend on agility to adapt to global trade disruptions, strategic investment in sustainability, and leveraging domestic infrastructure spending.
Metal companies that successfully navigate tariff barriers, adopt green technologies, and exploit new market niches are best placed for value creation and long-term leadership in an evolving global landscape.
Looking at the above factors I have selected some candidates from this sector that is showing potential to sustain and move higher in the next few months.
Raja Venkatraman is co-founder, NeoTrader. His Sebi-registered research analyst registration no. is INH000016223.
Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantees performance of the intermediary or provide any assurance of returns to investors.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.
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