Hindalco's stock hovered around ₹958 on Wednesday, dipping just a bit from the previous close.
Trading was active, with over 64.80 lakh shares exchanged by midday and sell-side orders outweighing buy orders, with 57.44% of the order book on the sell side.
Even with this small drop, the mood around Hindalco stayed positive.
Analysts hold buy targets ₹1,060-₹1,325
Analysts aren't worried about the dip: UBS, Motilal Oswal, Nomura, and Axis Direct all kept their "Buy" ratings, with target prices ranging from ₹1,060 to ₹1,325.
Their optimism comes from Hindalco's strong Q2 results: net sales jumped 39% to ₹917 billion and profits soared 50% to ₹73 billion.
This solid performance is keeping confidence high for what's next.