Hindalco shares traded at ₹959.85 on Monday after the company reported record quarterly results on Thursday. Net profit reached an all-time high of ₹7,533 crore, rising 59 per cent. Many analysts kept buy ratings for the stock, even though some trimmed their target prices due to higher production costs ahead.
Shares of Hindalco Industries were trading at ₹959.85, up 0.72 per cent or ₹6.85, on the National Stock Exchange around 11:57 am on Monday, following the company’s record quarterly results released on Thursday. The stock opened at ₹947.90, touched an intraday high of ₹960.70 and a low of ₹919.30. Buy orders accounted for 57.91 per cent of total activity, with traded volume of 47.20 lakh shares worth ₹444.28 crore. The stock’s 52-week range is ₹771.85 to ₹1,176.
Three brokerages maintained buy ratings on the stock after the results, though two trimmed their target prices. Elara Securities kept the highest target at ₹1,227, implying a 28 per cent upside from Thursday’s close of ₹958, citing record copper EBITDA and expected improvement at Novelis as Bay Minette ramps up. Motilal Oswal retained a buy with a target of ₹1,180, raising FY27 estimates by 5 per cent to account for the strong earnings beat, while flagging that second-half earnings for both India operations and Novelis are likely to remain subdued given lower LME aluminium prices and higher production costs. Axis Direct cut its target to ₹1,060 from ₹1,155, citing softer aluminium realisations and higher raw material cost assumptions, but maintained its buy call.
Hindalco reported consolidated revenue of ₹91,708 crore for the July-September quarter, up 39 per cent year-on-year, with net profit at an all-time high of ₹7,533 crore, up 59 per cent. The copper segment posted record EBITDA of ₹1,673 crore, up 164 per cent, though management flagged that roughly ₹3.5 billion of that figure came from non-recurring items including copper slag sales and derivative gains. Novelis adjusted EBITDA stood at $508 million, up 20 per cent year-on-year, supported by normalised production at the Oswego plant and $39 million in insurance recoveries. The company’s net debt-to-EBITDA stood at 1.80x as of September 30, up from 1.23x a year ago, as capital expenditure on growth projects accelerated.