Volatility is a critical measure of risk and plays a significant role in investment decision-making and portfolio management. The study empirically examines the volatility of stock returns for select aluminum and metal sector select companies listed on the National Stock Exchange (NSE) of India based on time series dataset taking into consideration of daily closing adjusted stock price from 2001-02 to 2015-16. The research study focuses on analyzing the time-varying nature of stock return volatility using econometric models such as ARCH and series of GARCH to capture clustering effects and asymmetric responses to market shocks. Main findings suggest that time varying volatility behavior of Indian stock market may be due to recent global financial meltdown which is originated from US sub-prime crisis. The results contribute to a deeper understanding of risk management strategies and investment decisions in the Indian stock market.