BSE Code: | NSE Code: | ISIN: | Sector:
Research Report Detail
|Report Date||Call||Price@Call||Target Price
|Current Status||Time Horizon|
|Target Hit|| Long (1Y)
Morgan Stanley initiates Hindalco Industries with overweight
Risk-reward ratio is favourable. Gradual deleveraging to continue to drive stock performance. Downstream, copper refining exposure limit earnings downside. Hindalco shares trades at 7.4 times its FY17 estimated EV/EBITDA. See return on equity improving from 2 per cent in FY2016 to 7 per cent in FY2018.