Hindalco Industries can test Rs 175-180: Vishal Jajoo

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Hindalco Industries can test Rs 175-180: Vishal Jajoo

Hindalco Industries can test Rs 175-180 in next six month to one year, says Vishal Jajoo, Sr Equity Research Analyst, Nirmal Bang Securities.

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Excerpts from Markets Midday on CNBC-TV18 Watch the full show » ALSO READ See previous views by Vishal Jajoo See what other Experts & Brokerages are saying about Hindalco See messages about Hindalco

Hindalco Industries can test Rs 175-180 in next six month to one year, says Vishal Jajoo, Sr Equity Research Analyst, Nirmal Bang Securities.

Jajoo told CNBC-TV18, "One has to look at the fact that the kind of liquidity we are seeing in equities same kind of even if a portion of it is expected to go into commodities, metal companies should basically come up with good set of numbers. Hindalco's aluminum margins are at the multi quarter low levels. I think the worst is already there in the price. They came up with the numbers and there was a positive surprise from the copper segment."

He further added, "From a corporate perspective promoters subscribing to Rs 15 crore warrants of the company that's a very positive announcement and that should give an indication that this is coming from a management, which has got a very clean track record and he is the person who has initiated the corporate governance initiative in the country, the head of the corporate governors committee in India."

"So all this perspectives if you take together I think Hindalco has got a better prospects going forward. If the investors have the potential to hold it for six months to one year perspective, the stock has the potential to go anywhere above Rs 175-180 levels."