Last Updated : Feb 15, 2018 02:14 AM IST | Source:

Buy Hindalco; target of Rs 323: Motilal Oswal

Motilal Oswal is bullish on Hindalco has recommended buy rating on the stock with a target price of Rs 323 in its research report dated 1 February 2018.

Broker Research @moneycontrolcom
  • bselive
  • nselive
Todays L/H

Motilal Oswal's research report on Hindalco

Novelis continued to improve its EBITDA even in the seasonally weakest quarter of the year. 3QFY18 adj. EBITDA increased 20% YoY to USD305m, led by 6% growth in volumes and continuously improving margins. Auto volumes grew 12% YoY, helped by ramp-up in China, boosting EBITDA per ton by 13% YoY (+2% QoQ) to USD383/t.South America reported very strong 17% YoY growth in volumes. This, coupled with operating leverage, led to EBITDA growth of 32% YoY to USD107m.


We expect Novelis to leverage the Sierre plant to drive auto line growth in Europe.We believe Hindalco is striking a balance between growth and deleveraging to deliver shareholder returns. Maintain Buy.

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

First Published on Feb 1, 2018 01:00 pm
Follow us on
Available On