Buy Hindalco Industries, target price Rs 720: Axis Securities

Axis Securities has buy call on Hindalco Industries with a target price of Rs 720. The current market price of Hindalco Industries Ltd. is Rs 617.9.

Hindalco Industries Ltd., incorporated in the year 1958, is a Large Cap company (having a market cap of Rs 139327.42 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 31-12-2023, the company reported a Consolidated Total Income of Rs 53088.00 Crore, down -2.83 % from last quarter Total Income of Rs 54632.00 Crore and down -.80 % from last year same quarter Total Income of Rs 53517.00 Crore. Company reported net profit after tax of Rs 2330.00 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 34.64 per cent stake in the company as of 31-Mar-2024, while FIIs owned 26.82 per cent, DIIs 25.43 per cent.