Buy Hindalco Industries, target price Rs 472: ICICI Direct

ICICI Direct has buy call on Hindalco Industries with a target price of Rs 472. The current market price of Hindalco Industries is Rs 467.3. 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 462.5.

Hindalco Industries, incorporated in the year 1958, is a Large Cap company (having a market cap of Rs 105370.95 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 30-06-2023, the company has reported a Consolidated Total Income of Rs 53382.00 Crore, down -5.03 % from last quarter Total Income of Rs 56209.00 Crore and down -8.32 % from last year same quarter Total Income of Rs 58229.00 Crore. Company has reported net profit after tax of Rs 2452.00 Crore in latest quarter.

Investment Rationale
Price rebounding after taking support at 20 day EMA indicating further upsides in coming sessions.

Promoter/FII Holdings
Promoters held 34.64 per cent stake in the company as of 30-Jun-2023, while FIIs owned 26.25 per cent, DIIs 25.56 per cent.