Finace And Stock

Buy Hindalco Industries, target price Rs 540: ICICI Direct

ICICI Direct has buy call on with a target price of Rs 540. The current market price of Hindalco Industries is Rs 482.5.

Time period given by analyst is 3 months when Hindalco Industries Ltd. price can reach defined target.

Hindalco Industries Ltd., incorporated in the year 1958, is a Large Cap company (having a market cap of Rs 109637.52 Crore) operating in Metals – Non Ferrous sector.



Hindalco Industries Ltd. key Products/Revenue Segments include Copper/Copper Products, Aluminium, Other Operating Revenue, Sale of services for the year ending 31-Mar-2021.

Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 41625.00 Crore, up 2.28 % from last quarter Total Income of Rs 40696.00 Crore and up 61.95 % from last year same quarter Total Income of Rs 25702.00 Crore. Company reported net profit after tax of Rs 2785.00 Crore in latest quarter.


Investment Rationale
The brokerage expects the stock to extend the current up move and head towards Rs 540 in the coming month as it is the price parity with previous up move (Rs 400-488) as projected from recent trough of Rs 439 signalling upside towards Rs 540.

Promoter/FII Holdings
Promoters held 34.6 per cent stake in the company as of June 30, 2021, while FIIs held 25.2 per cent, DIIs 20.6 per cent and public and others 19.6 per cent.

(Disclaimer: Views and recommendations given in this section are the analysts’ own and do not represent those of ETMarkets.com. Please consult your financial adviser before taking any position in the stock/s mentioned.


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