By Kanchan Joshi | 07 Mar, 2022
Jefferies recommends this metal stock to buy on rising aluminum prices, raises target price
Rising global energy prices and concerns on Russian supply have fueled a 37% CYTD rally in aluminum to a three-decade high. Hindalco should be a beneficiary especially given the bulk of coal coming from Coal India at below-global prices, as per Jefferies. “Novelis outlook remains strong amid structural tailwinds in packaging and autos. We raise FY23-24 EPS by 5%-11% on higher aluminum prices an...
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