The metal sector has been underperforming significantly, with a negative 2% return from the BSE Metal index in the past year and earnings from listed companies being lacklustre, posting a 67% earnings decline for the quarter ending on March 31st. However, Motilal Oswal Financial Services’ report suggests that the overall 4QFY23 aggregate earnings have gone up 8% YoY, with automobiles and BFSI leading at 9% and 28%, respectively. The report also suggests buying NMDC, Coal India, Hindalco and JSPL, with a neutral stance on the others.