Analysts have maintained 'buy' rating on stock
With the chart looking promising, we suggest to buy Hindalco and accumulate the stock with an upside target of Rs 220-225 keeping the stop loss near Rs 180 levels.
The new refinery estimated to cost Rs 8000 crore, is proposed to come up at Kansariguda near Rayagada in southern Odisha
For GAIL keep a stop at 119.5 and go short
Aluminium trailers along with the recently launched bulkers are the two consumer-facing products the company is looking to establish in the domestic market
Investor sentiment perked up after US national security adviser Robert O'Brien on Saturday said an initial trade agreement with China was still possible by the end of the year
As part of entering the packaging business, Hindalco recently partnered with the Jute Corporation to make recyclable packaging material
Analysts say the demand for aluminium from the US auto industry remains favourable and there are supply constraints for aluminium cans too
Hot stocks to lookout for today: HCL Tech, Coal India, Hindalco
Strong show by Novelis lends support to consolidated numbers in June quarter, and is likely to do so moving forward, too
Currently, these large companies (such as Hindalco) hedge all their risks in metal prices on bourses abroad
Hindalco says it wishes to insulate itself from price fluctuations on the London Metal Exchange
At present, packaged beverage consumption in the domestic market stands at 20 billion
Apart from strong performance by Aleris and a tight auto sheet market in US, analysts say aluminium prices are also bottoming
The average per tonne aluminium price on the London Metal Exchange (LME) during the quarter, at $1,968, was down 4.5 per cent sequentially and 6.5 per cent year-on-year (YoY)
The bulker developed by Hindalco busts the myth that aluminium is only meant for high-end, expensive and swanky automobiles
As base metal prices stabilise, aluminium looks set to gain the most on higher demand and constrained supply
In a Q&A, Satish Pai calls for getting more mines under auction to meet the demand-supply gap
The prevailing sense of optimism accentuates India's continuing economic growth in the future as well
There was a time when nearly 75% smelters in the world were not able to recover production costs from aluminium sales