Buy Hindalco Industries, target price Rs 590: Motilal Oswal

Hindalco Industries Ltd., incorporated in the year 1958, is a Large Cap company (having a market cap of Rs 108293.36 Crore) operating in Metals - Non Ferrous sector.

By ETMarkets.com | Updated: Nov 08, 2023, 09.52 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 590. The current market price of Hindalco Industries Ltd. is Rs 485.15.

Hindalco Industries Ltd., incorporated in the year 1958, is a Large Cap company (having a market cap of Rs 108293.36 Crore) operating in Metals - Non Ferrous sector.

Hindalco Industries Ltd. key Products/Revenue Segments include Aluminium, Other Operating Revenue, Sale of services for the year ending 31-Mar-2022.

Financials
For the quarter ended 30-06-2023, the company has reported a Consolidated Total Income of Rs 53382.00 Crore, down -5.03 % from last quarter Total Income of Rs 56209.00 Crore and down -8.32 % from last year same quarter Total Income of Rs 58229.00 Crore. Company has reported net profit after tax of Rs 2452.00 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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