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Buy Hindalco; target of Rs 500: ICICI Direct

ICICI Direct is bullish on Hindalco recommended buy rating on the stock with a target price of Rs 500 in its research report dated November 13, 2022.

November 22, 2022 / 07:52 PM IST
 
 
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ICICI Direct's research report on Hindalco


Hindalco is the world’s largest aluminium company by revenues and a major player in copper. Hindalco is one of Asia’s largest producers of primary aluminium • Novelis has leveraged its extensive recycling footprint and favourable market conditions to increase its recycled content to 61% in FY21.


Outlook


We maintain our BUY rating on the stock. We value Hindalco at Rs 500, based on SoTP valuation.


For all recommendations report, click here


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Hindalco - 14 -11-2022 - icici

Broker Research
first published: Nov 22, 2022 07:52 pm