Metal Stocks Predicted for Multi-Year Rally: Bajaj AMC's Nimesh Chandan

Nimesh Chandan, Chief Investment Officer at Bajaj Asset Management Limited, is bullish on metal stocks and predicts a multi-year rally. He attributes this to a supercycle driven by record copper prices and tightening global supply.

The structural gap between supply and demand favors hard commodities like copper over agricultural ones, according to Chandan. Unlike crops, mining output cannot be scaled up quickly, which means the copper supply deficit is likely to widen from here.

To play the metals theme, Bajaj Asset Management is building a basket that spans ferrous and non-ferrous metal producers, along with commodity exchange MCX.