Buy Hindalco Industries, target price Rs 535: Kotak Securities

Kotak Securities has buy call on Hindalco Industries with a target price of Rs 535. The current market price of Hindalco Industries is Rs 517.65. 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 116324.75 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 31-12-2021, the company reported a Consolidated Total Income of Rs 50453.00 Crore, up 4.97 % from last quarter Total Income of Rs 48063.00 Crore and up 43.00 % from last year same quarter Total Income of Rs 35281.00 Crore. Company reported net profit after tax of Rs 3672.00 Crore in latest quarter.

Investment Rationale
The stock has formed a strong reversal pattern at its important retracement support zone.

Promoter/FII Holdings
Promoters held 34.64 per cent stake in the company as of 31-Dec-2021, while FIIs owned 25.99 per cent, DIIs 21.16 per cent.