How Top Rare Earth Metal Stocks Performed in FY26: Hindustan Copper, GMDC, MOIL, OMDC

What are Rare Earth Metals (REEs)?

Rare earth metals are a group of 17 chemical elements used in advanced high-tech and clean energy products. They include metals like neodymium, praseodymium, dysprosium, etc. These are not actually “rare” in the ground, but they are hard to mine and process economically.

Where are they used?
REEs are essential in:

• Permanent magnets for electric vehicles (EVs) and wind turbines (neodymium–praseodymium magnets).
• Smartphones, electronics and computers components.
• Defense systems (radar, sonar, jet engines).
• Medical imaging, optics, and catalysts for emissions control.

These uses make rare earth metals critical for green and high-performance technologies and national strategic industries.

Why Rare Earth Export Was Halted or Restricted

China’s Export Controls (April 2025)

China, which controls about 90% of global rare earth processing and 70% of production, imposed tight export controls on seven key rare earth elements in April 2025. Exporters now need government licences and detailed end-use disclosures before shipping these metals out.

Impact of these controls:

• Exports dropped sharply - causing global supply squeezes.
• Indian manufacturers for EVs, electronics faced delayed shipments or supply logjams.

How India Responded to This?

India is pivoting to reduce reliance on imports by:

• Starting domestic rare earth magnet production.
• Prioritising local use of limited rare earth supplies rather than exporting raw ores.
• Approving a large incentive scheme (₹7,280 crore) to build domestic magnet capacity.

This shift aims to strengthen India’s manufacturing and reduce vulnerability to supply disruptions in global markets.

Rare Earth Exports from India

Trade data shows that India exported rare-earth metals (including scandium and yttrium) in recent years, such as in 2023 and 2024. According to trade statistics, India’s exports of rare-earth metals were valued at about $24.45 thousand (around 5,004 kg) in 2023 and $28.15 thousand (about 6,854 kg) in 2024, shipped to countries like the United Arab Emirates, Bhutan, Singapore, Hong Kong, South Korea, the US and others.

However, exports have recently been restricted or re-evaluated by the government to prioritise domestic use and conserve limited supplies for India’s own industries. India asked state-run miner IREL (India Rare Earths Limited) to halt long-standing rare earth exports to Japan to safeguard supplies for domestic needs and reduce reliance on imports from China. In FY25, India imported 53,748 metric tonnes of rare earth magnets, according to government data.

Indian Stocks in the Rare Earth Metals Segment

Here are the best performing Rare Earth Metal Stocks for FY26 in India 

Hindustan Copper Limited (FY26 Returns: +151%)

Hindustan Copper Limited, India’s only vertically integrated copper producer, is increasingly discussed in the critical minerals space since copper tailings and by-products can contain rare earth elements. The stock has gained strong traction on this theme, rallying nearly 151% in FY 2025-26 (since April 2025 - January 23, 2026) and reacting positively to policy news around rare earths and critical minerals.

With electrification and renewable energy driving global copper demand, Hindustan Copper has outlined ambitious plans to scale up mining output by the end of the decade. Backed by government support, favourable pricing trends and its strategic position in copper and critical minerals, Hindustan Copper continues to benefit from strong investor sentiment.

Gujarat Mineral Development Corporation Ltd (FY26 Returns: +101%)

GMDC is a state-owned minerals and mining company primarily producing lignite, bauxite, manganese, fluorspar, and other industrial minerals. It is now expanding into rare earth extraction and processing.

The optimism around the government’s ₹7,280 crore rare earth magnet incentive scheme and policy discussions at the PMO level has driven strong buying in GMDC. The stock has repeatedly hit 52-week highs in FY 2025-26, delivering 101%(since April 2025) gains in phases on rare earth-related sentiment. 

Operationally, GMDC is a cash-rich, debt-free miner with over ₹1,200 crore in reserves and exposure to lignite, bauxite, manganese and now rare earth minerals. GMDC is viewed as a potential beneficiary from India’s push into rare earths, attracting investors on policy catalysts.

Maithan Alloys Ltd (FY26 Returns: +13%)

Maithan Alloys is a ferroalloy producer supplying critical inputs to the steel and industrial sectors, making its fortunes closely tied to broader infrastructure and metals demand. In FY 2025-26, the stock has seen moderate movement within a range, from April 1, 2025 to date, it has gained around 13%, supported by steady steel demand and occasional sentiment uplift from broader mineral and commodity themes. Maithan remains more influenced by steel consumption trends than direct rare earth exposure.

MOIL Ltd (FY26 Returns: + 4%)

MOIL is India’s largest manganese ore producer, and while not a pure rare earth player, manganese remains essential for steelmaking and emerging battery technologies. The stock rallied around 4% since April 1, 2025. MOIL is positioned to benefit from growing demand for battery-grade manganese, supported by ongoing capacity expansion and stable pricing. Overall, its gains reflect sector-wide interest rather than direct rare earth exposure.

Orissa Minerals Development Company Ltd (FY26 Returns: -11%)

OMDC is a mining company focused on iron and manganese ore in Odisha and has historically struggled with operational and clearance hurdles, which limited its market performance and kept it out of major rare earth discussions. While not a direct rare earth play, it sits within the broader mineral ecosystem and has recently begun moving toward revival with mining leases being reactivated after a long pause. 

Note: Performance data as of 23/01/2026

Read our detailed analysis of the Top Rare Earth Stocks in 2025.

Conclusion

Rare earth metals are vital for green and high-tech industries, particularly for EV motors and wind turbines, making them strategically important. China’s export restrictions in 2025 created global supply disruptions, pushing India to prioritise domestic utilisation and build its own processing and manufacturing ecosystem. In response, government incentives and long-term strategic plans have shifted investor attention toward mining and mineral companies that could benefit from this transition. 

GMDC and Hindustan Copper have emerged as the standout performers due to direct rare earth linkage, while stocks such as MOIL and Maithan Alloys have also gained sector-driven interest, even though not all of them are direct rare earth players.