Hindalco

Capex cut, focus on profitability, healthy balance sheet should help overcome medium-term hurdles

Hindalco's stock closed flat at Rs 403.35 apiece on the BSE on Wednesday

Adani Ports, Hindalco among stocks with 100 per cent 'Buy' rating by analysts.

Hindalco, Vedanta and Hindustan Zinc remain upbeat about future demand

Company has spent Rs 2,700 crore in India in FY23, MD Satish Pai said; will be higher next year

Novelis' total shipments of flat-rolled products were at 908 Kt (kilo tonnes) in the October-December period, declining 2 per cent from 930 Kt in the corresponding period a year ago

Stocks to Watch: Tata Steel reported a consolidated net loss of Rs 2,223.84 crore in the December quarter (Q3FY23) on the back of a sharp drop in realisations in Europe

The Nifty Metal index seems to be eyeing a new historic peak at 6,900-level; Thus, select stocks from this space could rally up to 15 per cent on their respective breakouts.

Stocks to Watch Today: Shares of Apollo Tyres, Bharat Forge, Grasim, Indiabulls Housing Finance, IRCTC , MMTC, MTNL, SpiceJet and Strides Pharma are likely to see some action owing to Q2 results.

As per reports, Novelis has also lowered its capital expenditure (capex) outlook for FY23 to a range of $900 million- $1 billion from the previously guided $1.3-1.6 billion

Profits down 91% in Q2, driven by margin contraction because sales realisation did not keep pace with rise in expenses

Lockdowns in China, energy shortages in Europe and tightening interest rates may have an impact on production, leading to lower supply

Technically, probability of metal stocks entering a negative trend remains negligible. A resilient bullish trend seems clearly visible in Tata Steel and Vedanta.

Margin recovery expected in the second half of FY23

The company had posted net profit of Rs 2,787 crore in the year-ago period. On a sequential basis, net profit rose 7 per cent, from Rs 3,851 crore reported in the January-March quarter

The Reserve Bank of India (RBI) on Wednesday released its guidelines for digital lending, listing companies allowed in the business, the rules for loans and data collection, and how fee is charged

The company's net debt fell 19% from a year earlier to Rs 42,193 crore at the end of June, it said in the earnings presentation

Average stake down 40 bps from previous quarter at 22%

Aditya Birla Group's metals flagship Hindalco Industries and Aequs have entered into a strategic pact for long-term collaboration and joint business development in the commercial aerospace sector

Global growth is projected to slowdown from an estimated 6.1% in 2021 to 3.6% in 2022. Given this, Tata Steel, Hindalco Industries, and Vedanta have shed up to 35 per cent in the past one month