Buy Hindalco Industries, target price Rs 442: ICICI Direct

ICICI Direct has buy call on Hindalco Industries with a target price of Rs 442. The current market price of Hindalco Industries is Rs 443.5. Time period given by analyst is Intra Day when Hindalco Industries price can reach defined target. ICICI Direct recommended to keep stop loss at Rs 432.7.

Hindalco Industries, incorporated in the year 1958, is a Large Cap company (having a market cap of Rs 99618.14 Crore) operating in Metals - Non Ferrous sector.

Hindalco Industries key Products/Revenue Segments include Aluminium, Other Operating Revenue, Sale of services for the year ending 31-Mar-2022.


Financials
For the quarter ended 31-03-2023, the company has reported a Consolidated Total Income of Rs 56209.00 Crore, up 5.03 % from last quarter Total Income of Rs 53517.00 Crore and up .27 % from last year same quarter Total Income of Rs 56057.00 Crore. Company has reported net profit after tax of Rs 2409.00 Crore in latest quarter.

Investment Rationale
Price moving out of short term consolidation range suggesting further upward momentum in coming sessions.

Promoter/FII Holdings
Promoters held 34.64 per cent stake in the company as of 31-Dec-2022, while FIIs owned 25.66 per cent, DIIs 26.35 per cent.