BSE Code: | NSE Code: | ISIN: | Sector:
Research Report Detail
|Report Date||Call||Price@Call||Target Price
|Current Status||Time Horizon|
|Closed|| Long (1Y)
CLSA upgrades Hindalco to buy from sell
CLSA says Hindalco's subsidiary Novelis Corp "will be a big beneficiary of the accelerating shift of global automakers from steel to aluminium given its strong franchise and upcoming capacities". Hindalco shares could double in four years, benefiting also from "a multi-year deleveraging cycle", it says, while noting that the cost structure at Indian smelters "is not as bad as we thought."