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Last Updated : Feb 22, 2017 01:01 PM IST | Source: Moneycontrol.com

Buy Hindalco; target of Rs 245: Centrum

Centrum is bullish on Hindalco has recommended buy rating on the stock with a target price of Rs 245 in its research report dated February 13, 2017.

 
 
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Centrum's research report on Hindalco


EBITDA at Rs 11.9bn, was marginally below our estimates, led by strong performance of the aluminium division getting partially mitigated by a subdued show from the copper business. The aluminium division reported EBITDA of Rs 8.8bn (up 147% YoY) and blended EBITDA/t of US$419/t (vs US$144/t YoY and US$377 QoQ).


Outlook


We maintain our conviction buy on Hindalco (HNDL) with a revised TP of Rs 245 and continue to maintain it as our top bet in large cap metals space. HNDL continued to deliver superlative operational performance from domestic aluminium business (EBITDA/t at US$419) led by industry leading cost positioning at 11th percentile in the global cost curve, while Novelis’ performance remained strong (EBITDA/t at US$340).

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First Published on Feb 22, 2017 01:01 pm
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