Motilal Oswal has issued a “buy” call on Hindalco Industries Ltd., setting a target price of Rs 570. Currently, Hindalco Industries Ltd. is trading at Rs 470.55 in the market.
Hindalco Industries Ltd., established in the year 1958, is a large-cap company with a market capitalization of Rs 105,539.49 Crore, and it operates in the Metals – Non Ferrous sector.
Key Products/Revenue Segments for Hindalco Industries Ltd. include Aluminium, Other Operating Revenue, and Sale of services for the fiscal year ending on March 31, 2022.
In terms of financials, for the quarter ending on June 30, 2023, the company reported a consolidated total income of Rs 53,382.00 Crore. This represents a decrease of -5.03% from the total income of Rs 56,209.00 Crore in the previous quarter and a decrease of -8.32% from the total income of Rs 58,229.00 Crore in the same quarter of the previous year. The company reported a net profit after tax of Rs 2,452.00 Crore in the latest quarter.
As of June 30, 2023, the promoters held a 34.64% stake in the company, while foreign institutional investors (FIIs) owned 26.25%, and domestic institutional investors (DIIs) held 25.56%.
Investors may consider this “buy” call from Motilal Oswal when evaluating their investment decisions. The target price of Rs 570 suggests potential growth for Hindalco Industries in the future. However, it’s important to conduct thorough research and consider your own financial goals and risk tolerance before making any investment decisions.
