Buy Hindalco Industries, target price Rs 520: Chandan Taparia

Chandan Taparia of Motilal Oswal has buy call on Hindalco Industries Ltd. with a target price of Rs 520. The current market price of Hindalco Industries is Rs 493.1. 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 110895.11 Crore) operating in Metals - Non Ferrous sector.

Hindalco Industries Ltd. key Products/Revenue Segments include Copper/Copper Products, Aluminium, Other Operating Revenue, Sale of services for the year ending 31-Mar-2021.



Financials
For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 48063.00 Crore, up 15.47 % from last quarter Total Income of Rs 41625.00 Crore and up 52.45 % from last year same quarter Total Income of Rs 31528.00 Crore. Company reported net profit after tax of Rs 3417.00 Crore in latest quarter.

Investment Rationale
Pole and Flag breakout on lower time frame with higher lows on weekly scale

Promoter/FII Holdings
Promoters held 34.64 per cent stake in the company as of 30-Sep-2021, while FIIs owned 25.47 per cent, DIIs 20.61 per cent.