Upcoming Webinar :Register now for 'ULIP as an investment during economic recovery' powered by Bajaj Allianz
you are here: HomeNewsBusiness

Expect 30% Upside In Hindalco Industries: Akash Jain

"We can expect around 30 percent upside from current market price as the recent fall was owing to sentiments turning negative in metal sector rather than impact on its earnings," says Akash Jain of Ajcon Global Services.

Apr 11, 2018 / 03:09 PM IST
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Akash Jain
Vice-president, Equity Research

Ajcon Global Services

In Hindalco Industries, we can expect around 30 percent upside from current market price as the recent fall was owing to sentiments turning negative in metal sector rather than impact on its earnings. The recent tariff imposition on aluminium by US will have limited impact on Novelis earnings as it has significant recycling dependence at over 50 percent.

Duty imposition on Novelis’ end products, namely auto and can sheets, further insulates the US market from dumping by other countries (ruling out competition to Novelis).

The company has achieved full utilization at aluminium plants in India and with higher coal security of 80 percent+ augurs well for its earnings.

Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Moneycontrol News
first published: Apr 11, 2018 03:09 pm

stay updated

Get Daily News on your Browser
Sections