Shares of Hindalco Industries Ltd. surged over 1 per cent in the opening trade on Tuesday as Sensex and Nifty opened in green with gains on global cues. The counter started the trade at Rs 648.40, up by around 1.55 per cent from the previous close of Rs  638.50. Last seen, the counter was trading at Rs 640.45.

Hindalco Industries Share Price Target

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Brokerage firm JP Morgan has maintained an overweight on this stock and has raised the target to Rs 710 from Rs 665.

Global brokerage firm Jefferies is also bullish on the stock and has raised Rs 810 to from Rs 700. According to the brokerage, the margins of Novelis - a subsidiary of Hindalco Industries Limited - are at a 7-quarter high and higher aluminium prices have lifted India's margins. 

Another brokerage firm CLSA too has given a buy call on this stock with a target price of Rs 770. Here's what CLSA has to say about the Novelis.

- Novelis’ profitability is above guidance while volume uptick modest

- Novelis sees further levers for margin improvement, such as price revisions

- Levers for margin improvement is a rise in recycling content & ops efficiencies

- Capex has been guided at $1.8 Bn-2.1 Bn

- Capex could drive up leverage but remain below 3x

- Debt reduction is in line with seasonality

Hindalco Industries Share Price Target, Stop Loss by Anil Singhvi

According to Zee Business Managing Editor Anil Singhvi, one should buy the stock for targets of Rs 654 and Rs 660.

Singhvi said that investors must keep a stop loss at Rs 637.

Hindalco Industries Share Price History

Shares of Hindalco Industries have given a return of over 220 per cent in the last five years. In one year, the counter has jumped 47.98 per cent and 32.92 per cent in six years.