Buy Hindalco Industries, target price Rs 401.5: ICICI Direct

ICICI Direct has buy call on Hindalco Industries with a target price of Rs 401.5. The current market price of Hindalco Industries Ltd. is Rs 390.55. Time period given by analyst is Intra Day 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 88440.73 Crore) operating in Metals - Non Ferrous sector.

Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 40696.00 Crore, up 15.35 % from last quarter Total Income of Rs 35281.00 Crore and up 37.38 % from last year same quarter Total Income of Rs 29624.00 Crore. Company reported net profit after tax of Rs 1928.00 Crore in latest quarter.


Investment Rationale
Bullish Engulfing candlestick and price sustaining above 50 day EMA

Promoter/FII Holdings
Promoters held 34.7 per cent stake in the company as of Dec 30, 2020, while FIIs held 23.1 per cent, DIIs 22.1 per cent and public and others 20.2 per cent.