Buy Hindalco Industries, target price Rs 580: Motilal Oswal

Hindalco Industries Ltd. key Products/Revenue Segments include Copper/Copper Products, Fertilizers, Other Operating Revenue, Sale of services for the year ending 31-Mar-2023.

By ETMarkets.com | Updated: Nov 13, 2023, 10.20 AM IST

Promoters held 34.64 per cent stake in the company as of 30-Sep-2023, while FIIs owned 27.01 per cent, DIIs 25.46 per cent.

Motilal Oswal has buy call on Hindalco Industries Ltd. with a target price of Rs 580. The current market price of Hindalco Industries Ltd. is Rs 490.45.

Hindalco Industries Ltd., incorporated in the year 1958, is a Large Cap company (having a market cap of Rs 110203.50 Crore) operating in Metals - Non Ferrous sector.

Hindalco Industries Ltd. key Products/Revenue Segments include Copper/Copper Products, Fertilizers, Other Operating Revenue, Sale of services for the year ending 31-Mar-2023.

Financials
For the quarter ended 30-09-2023, the company reported a Consolidated Total Income of Rs 54632.00 Crore, up 2.34 % from last quarter Total Income of Rs 53382.00 Crore and down -3.31 % from last year same quarter Total Income of Rs 56504.00 Crore. Company reported net profit after tax of Rs 2196.00 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 34.64 per cent stake in the company as of 30-Sep-2023, while FIIs owned 27.01 per cent, DIIs 25.46 per cent.

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