Sell Hindalco Industries, target price Rs 397: IIFL

IIFL has sell call on Hindalco Industries with a target price of Rs 397. The current market price of Hindalco Industries Ltd. is Rs 410.7. 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 92280.15 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 31-03-2022, the company reported a Consolidated Total Income of Rs 56057.00 Crore, up 11.11 % from last quarter Total Income of Rs 50453.00 Crore and up 37.75 % from last year same quarter Total Income of Rs 40696.00 Crore. Company reported net profit after tax of Rs 3850.00 Crore in latest quarter.

Investment Rationale
The stock has given a bearish flag breakdown.

Promoter/FII Holdings
Promoters held 34.64 per cent stake in the company as of 31-Mar-2022, while FIIs owned 28.85 per cent, DIIs 19.22 per cent.