Hindalco Industries Ltd (HINDALCO)

Hindalco Shares Hit 52-Week High on Improved Aluminium Prices - 16 May, 2024

Hindalco Industries' stock hit a 52-week high due to the rise in aluminium prices, with analysts raising their earnings forecast for FY2025 and FY26. Other metal stocks also edged higher.

Hindalco's Novelis Files for IPO; In Talks for Collaboration with Adani Firm - 15 May, 2024

Hindalco Industries' US subsidiary, Novelis, has filed for an IPO while the parent company is in talks for a collaboration with an Adani firm and Codelco to expand trade agreement with Chile on critical minerals.

Hindalco Subsidiary Files for IPO of Novelis Common Shares - 14 May, 2024

Hindalco Industries' subsidiary, Novelis Inc, has filed a registration statement with the Securities and Exchange Commission for the proposed initial public offering of its common shares on the New York Stock Exchange. The company is expected to raise about $1.2 billion via its initial stake sale at an expected valuation of $18 billion. Brokerages are bullish on Hindalco stock.

Hindalco Signs MoU with Indian Coast Guard for Aluminium Supply - 11 May, 2024

Hindalco Industries has signed an MoU with the Indian Coast Guard to manufacture and supply indigenous marine-grade aluminium to Indian public and private shipyards. The agreement includes benefits such as quarterly pricing, priority in supplies, and turnover discounts.

Hindalco Signs MoU with ICG for Marine-Grade Aluminium Supply - 10 May, 2024

Hindalco Industries has signed an MoU with the Indian Coast Guard for the manufacturing and supply of indigenous marine-grade aluminium. The partnership will provide benefits such as quarterly pricing, priority in supplies, and turnover discount. Additionally, Hindalco saw significant gains in the metal sector on Friday.

Hindalco Considers $1.2B IPO for Novelis - 08 May, 2024

Hindalco Industries is reportedly planning to seek $1.2 billion in an initial public offering (IPO) for its US-based division Novelis Inc., targeting a valuation of around $18 billion. Axis Securities has a buy call on the company with a target price of Rs 720.

Hindalco Subsidiary Beats Q4 Estimates, Target Price Raised - 07 May, 2024

Hindalco Industries' subsidiary, Novelis, reported a 6% YoY increase in Q4FY24 net income at $166 million, while net sales declined by 7% YoY to $4.1 billion due to lower average aluminium prices. Brokerages raised the company's target price after Novelis beat Q4 estimates, with Jefferies maintaining a Buy call and raising its target price to Rs 810.

Nifty Metal Index Soars 43% in Six Months - 06 May, 2024

The Nifty Metal index has surged by 43% over the past six months, with Hindustan Copper stock soaring 167%. Stocks of Jindal Steel and Power, Hindustan Zinc, NMDC, Vedanta, SAIL, and Nalco have rallied between 56% and 99% during this period.

CLSA Raises Target Price for Hindalco, Recommends Buy Call - 03 May, 2024

Foreign brokerage firm CLSA has raised its target price for Hindalco Industries Ltd to Rs 770 from Rs 635 per share and reiterated a Buy rating, citing robust aluminum demand recovery and Indian smelters' advantageous position. The stock rose 1.5% to trade at Rs 651, with CLSA raising FY24-26 EBITDA estimates by 4-13%.

Hindalco, Vedanta and National Aluminium Co shares end higher despite Nifty Metal index drop - 29 Apr, 2024

Shares of Hindalco Industries Ltd, Vedanta and National Aluminium Co ended higher on Friday despite the Nifty Metal index, Nifty 50 and Sensex ending in the red. Analysts suggest holding onto these shares but not buying at current levels as a large part of the rally has already happened.

Kotak Institutional Equities Upgrades Target Price for Hindalco Industries - 26 Apr, 2024

Kotak Institutional Equities has raised the target price for Hindalco Industries from Rs 535 to Rs 675 and upgraded earnings estimates following the recent rally in metal prices globally. Hindalco remains its top pick, while National Aluminum is a top sell.

Prabhudas Lilladher Gives Buy Call on Hindalco Industries - 25 Apr, 2024

Prabhudas Lilladher has given a buy call on Hindalco Industries with a target price of Rs 658. The company reported a consolidated total income of Rs 53,088 crore for the quarter ended December 31, 2023, down -2.83% from the last quarter and -.80% from the same quarter last year. Promoters hold 34.64% stake in the company as of March 31, 2024.

Hindalco Industries Stock Rallies 17% in a Month - 18 Apr, 2024

Shares of Hindalco Industries have rallied 17% in the last month, erasing all losses to turn positive for 2024. JPMorgan issued an overweight call on the stock and raised its price target to ₹665 from ₹600 earlier, citing a constructive non-ferrous setup and increased price forecast for aluminium and zinc. Out of 27 analysts tracking Hindalco, 24 recommend buying the stock.