Decision adds 3% shine to Metal stocks

Metal stocks on Thursday rose by up to 3 per cent after the government cleared a proposal to amend the Mines and Minerals Development and Regulation Act (MMDR) to allow transfer of captive mining leases not granted through auction. Shares of Hindalco went up by 3.02 per cent, Jindal Steel & Power rose 1.23 per cent, Steel Authority of India Ltd (0.94 per cent) and Vedanta (0.40 per cent) on Bombay Stock Exchange (BSE).