Non Ferrous Metals · HNDL
Aluminium
from 1,036 today
We maintain HOLD on Hindalco with a target price of INR 1,134.
Hindalco's Q1FY27 EBITDA beat expectations, driven by improved LME realisations across businesses. We maintain our BUY rating with a target price of INR 1,200, expecting healthy earnings momentum to be sustained over FY27 supported by a recovery in Novelis, elevated LME, higher downstream volumes, and INR depreciation.
Hindalco reported a record quarter driven by elevated aluminum prices and strong performance in the aluminum and copper segments, though consolidated net debt increased QoQ. We maintain our HOLD rating with a revised SoTP-based target price of INR 1,134.
Hindalco reported a strong set of numbers with an overall beat across segments and easing Novelis headwinds. We maintain our BUY rating with a target price of Rs 1,155.
Novelis' Q1FY27 EBITDA beat estimates, driven by insurance proceeds and marking the start of a multi-quarter recovery. We upgrade the stock to BUY with a target price of INR 1,200, supported by structural cost initiatives, volume growth from the Oswego restart and Bay Minette commissioning, and a strong domestic business.
Ratings and target prices as published by each firm. Each summary condenses that firm's stated view in its own note and is attributed to it; no report text is reproduced.
