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Dec 19, 2017 03:15 PM IST | Source: CNBC-TV18

Stay with Hindalco Industries, says Sharmila Joshi

According to Sharmila Joshi of sharmilajoshi.com, one may hold Hindalco Industries.

CNBC TV18 @moneycontrolcom

Sharmila Joshi of sharmilajoshi.com told CNBC-TV18, "Hindalco Industries has been on the move for the past two years if not thereabouts. So ever since we have seen this rally in metals started, Hindalco has pretty much participated which is why now I think it has entered into a bit of a consolidation phase because the kind of data that you are hearing from overseas also tends to drive the stock down in between the rises that you see in the stock."

She further added, "I expect aluminium demand to be extremely strong going forward and the domestic story in aluminium is still waiting to play out. Hindalco has obviously gained from the fact that they had an overseas aluminium presence because of Novelis. So once you see the domestic story also catch up in terms of the demand pick up in aluminium, you will see the rise in share price. So I would be patient at this point in time and I do not think that it is a sell for me at Rs 250, so at this price I would continue to hold."
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