ICICI Securities gives Hindalco Industries ₹1,200 target citing smart moves
Business
Thinking about stocks? ICICI Securities just gave Hindalco Industries a thumbs up with a target price of ₹1,200.
They're optimistic because the company's making smart moves to boost profits and stay ahead in the game.
Novelis reports 20% adjusted EBITDA growth
Hindalco's global arm Novelis's had a standout Q2FY27, with adjusted EBITDA rising 20% YoY from last year, thanks to better metal prices and cost savings.
Looking ahead, ICICI Securities expects even more growth as its Oswego plant ramps up and costs drop.
It also expects debt to start tapering on working capital release and completion of capex, while saving up to $350-400 million by FY28E-end, which helped keep that "buy" rating strong.