Record Q2 lifts Hindalco shares to ₹959.85 despite LME pressures
Business
Hindalco's shares got a boost, rising to ₹959.85 after the company posted record-breaking second-quarter results.
Investors seemed optimistic, with 57.91% buy orders and trading volume hitting 47.20 lakh shares worth ₹444.28 crore, even as the aluminum sector faces lower LME aluminum prices, softer aluminum realizations, and higher production costs/raw material costs.
Brokerages keep positive Hindalco outlook
Analysts aren't backing down on their positive outlook for Hindalco.
Elara Securities set a target of ₹1,227, highlighting strong copper profits and growth at Novelis.
Motilal Oswal raised FY27 estimates by 5% after the earnings surprise, while Axis Direct adjusted its target to ₹1,060 but noted that softer aluminum prices and higher costs could be challenges ahead.