Buy Hindalco Industries, target price Rs 558: Chandan Taparia

Chandan Taparia of Motilal Oswal has buy call on Hindalco Industries with a target price of Rs 558. The current market price of Hindalco Industries is Rs 533.8. 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
Turning from its support zones and follow up buying can be seen

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.