Buy Hindalco Industries, target price Rs 285: Kotak Securities

Hindalco Industries Ltd., incorporated in the year 1958, is a Large Cap company (having a market cap of Rs 41354.10 Crore) operating in Metals - Non Ferrous sector.

Promoters held 34.7 per cent stake in the company as of June 30, 2020, while FIIs held 18.8 per cent, DIIs 27.3 per cent and public and others 19.3 per cent.
Kotak Securities has given a buy rating to Hindalco Industries with a target price of Rs 285. The share price moved down by 1.40 per cent from its previous close of Rs 182.75. The stock’s last traded price is Rs 180.20.
Hindalco Industries Ltd., incorporated in the year 1958, is a Large Cap company (having a market cap of Rs 41354.10 Crore) operating in Metals - Non Ferrous sector.

Hindalco Industries Ltd. key Products/Revenue Segments include Aluminium which contributed Rs 23610.88 Crore to Sales Value (51.60 % of Total Sales), Copper/Copper Products which contributed Rs 22138.28 Crore to Sales Value (48.39 % of Total Sales)for the year ending 31-Mar-2019.


Financials
For the quarter ended 30-06-2020, the company reported a Consolidated sales of Rs 25,283 Crore, down 13.76 % from last quarter Sales of Rs 29,318 Crore and down 15.64 % from last year same quarter Sales of Rs 29972.13 Crore. The Company reported net profit after tax of Rs -712.00 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 34.7 per cent stake in the company as of June 30, 2020, while FIIs held 18.8 per cent, DIIs 27.3 per cent and public and others 19.3 per cent.
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