Aditya Birla Group Stock To Likely Jump To Rs 525 In 1 Year, Buy Rating Assigned: JM Financial

Leading brokerage firm JM Financial has given buy call to the stock of Hindalco Industries Ltd for a target price of Rs 525 apiece with a potential gain of 23% in 1-year time period. It is a company with high TTM EPS and registered strong EPS growth. Recently, Hindalco Industries Ltd. published its quarterly results showing an all-time high quarterly consolidated net profit in Q1FY23 at Rs. 4,119 crore, with an increase of 48% YoY.

Hindalco Industries Ltd Stock Outlook

The current market price of the stock is Rs 1828 apiece with a gain of 2.38% in September 9, 2022 trading. According to brokerage firm JM Financial, if you buy the stock at its current market price, it has the potential to surge to Rs 525 and the time period to reach this level is 1 year.

Hindalco Industries Ltd Market Capitalization

The company has a market capitalization of Rs 9,251 crore.

Hindalco Industries Ltd 52-week high/low

The stock's 52-week high is Rs 1869 apiece and 52-week low is Rs 1218 apiece, respectively.

Return In Last 5 Years

The stock has given a return of 70% in the last 5 years, 125% in last 3 years, and fallen 8% in last 1 year.

Hindalco Industries Ltd Quarterly Results

The company's consolidated revenue surged to Rs. 58,018 crore, against Rs. 41,358 crore, which increased by 40% YoY. According to the company, excellent performance by Novelis, and robust growth by Aluminium Downstream and Copper businesses, supported by operational efficiencies and higher volumes were the major reasons behind this optimistic result.

About Hindalco Industries

Hindalco Industries Limited is the metals flagship company of the Aditya Birla Group. Hindalco is an industry leader in aluminium and copper. Hindalco's acquisition of Aleris Corporation in April 2020, through its subsidiary Novelis Inc., has cemented the company's position as the world's largest flat-rolled products player and recycler of aluminium, the company informs.

The Birla Copper unit produces copper cathodes and continuous cast copper rods, along with other by-products, including gold, silver, and DAP fertilisers. It is India's largest private producer of gold.

Disclaimer

The stock has been picked from the brokerage report of JM Financial. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.