Buy Hindalco Industries, target price Rs 550: Chandan Taparia

Chandan Taparia of Motilal Oswal Securities has buy call on Hindalco Industries with a target price of Rs 550. The current market price of Hindalco Industries Ltd. is Rs 527.45.

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 118010.12 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
Came out of its range on daily frame with increased volumes and follow-up buying in entire metal sector.

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.