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Yes Securities Report
Hindalco Industries Ltd.'s Q4 FY24 earnings was marginally above our estimates owing to better realisations for the Indian aluminium business and higher volumes seen on the copper front. Both copper and aluminium pricing is expected to remain strong and have now recovered from the bottoms of CY 2023, hence we believe, the pricing effect should reflect in the company's performance for the year.
Since our initiation on the company, the stock has delivered ~27% returns owing to business operations and a favorable macro-profile.
We maintain our positive stance on Hindalco Industries and use the SOTP model to derive our target price of Rs 743/share.
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