Stock To Buy For 2024: ICICI Direct Lists Metal Stock To Buy For Gain, TP Rs 675

Renowned brokerage firm ICICI Direct has assigned buy call to metal & non-ferrous sector stock Hindalco Industries with target price of Rs 675. Current market price of Hindalco Industries share on BSE is Rs 577.10 per share with intraday gain of 1.25% on BSE. If you buy Hindalco Industries shares at current market price of Rs 577.10 apiece, you can fetch likely return of 16.96%. Hindalco Industries has a market capitalisation of Rs 1,29,686.87 crore.Hindalco Industries shares gained 22% in last 3-months and soared 143% in last 3-years. Check details below:

Hindalco Industries Stock Performance & Return: The stock's 52-week high price is Rs 580.45 per share and 52-week low price is Rs 381.00 per share, respectively. Hindalco Industries stock gained 2.16% in last 1-week, soared 39% in last 6-months, surged 30% in last 1-year, and offered shareholders return of 164% in last 5-years. In last 10-years, Hindalco Industries shares rallied 376%.

Hindalco Industries Financials: The leading Aditya Birla Group company on November 10 declared its consolidated net profit declined marginally by 0.4% YoY to Rs 2196 crore for the quarter ended September 30, 2023. Its consolidated revenue declined 3.5% YoY to Rs 54,169 crore for the period under consideration. But, on a standalone basis, Hindalco Industries reported a jump of 54.6% YoY in its net profit to Rs 847 crore for the quarter under review and its revenue surged 12.5% to Rs 20,676 crore.

Hindalco Industries About: Hindalco Industries Limited is the metals flagship company of Aditya Birla Group. A $26 billion metals powerhouse, Hindalco is the world's largest aluminium company by revenues, and a major player in copper. It is also one of Asia's largest producers of primary aluminium. Guided by its purpose of building a greener, stronger, smarter world, Hindalco provides innovative solutions for a sustainable planet. Its wholly-owned subsidiary Novelis Inc. is the world's largest producer of aluminium beverage can stock and the largest recycler of used beverage cans (UBCs), according to its LinkedIn page.

Disclaimer:

The stock has been picked from the brokerage report of ICICI Direct. 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.