Buy Hindalco Industries, target price Rs 510 : IIFL

IIFL has buy call on Hindalco Industries with a target price of Rs 510.The current market price of Hindalco Industries is Rs 491.35. IIFL recommended to keep stop loss at Rs 474.

Hindalco Industries, incorporated in the year 1958, is a Large Cap company (having a market cap of Rs 110324.94 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 30-09-2022, the company has reported a Consolidated Total Income of Rs 56504.00 Crore, down -2.96 % from last quarter Total Income of Rs 58229.00 Crore and up 17.56 % from last year same quarter Total Income of Rs 48063.00 Crore. Company has reported net profit after tax of Rs 2203.00 Crore in latest quarter.

The company’s top management includes Mr.Kumar Mangalam Birla, Mr.Sudhir Mital, Mr.Vikas Balia, Ms.Alka Bharucha, Mr.Yazdi Piroj Dandiwala, Mr.Kailash Nath Bhandari, Mr.Askaran Agarwala, Mrs.Rajashree Birla, Mr.Praveen Kumar Maheshwari, Mr.Satish Pai, Mr.Anant Maheshwari. Company has Price Waterhouse & Co Chartered Accountants LLP as its auditors. As on 30-06-2022, the company has a total of 225 Crore shares outstanding.

Investment Rationale
The stock has given a short-term breakout.

Promoter/FII Holdings
Promoters held 34.64 per cent stake in the company as of 30-Jun-2022, while FIIs owned 24.76 per cent, DIIs 21.52 per cent.