Hindalco share price: Jefferies reiterates Buy rating with revised price target of Rs 350
Hindalco’s Q3 EBITDA rose 53% YoY and came 6% above Jefferies estimate. Novelis is benefiting from good demand across autos, cans and specialty segments, and delivered decade-high EBITDA/ton. India aluminum EBITDA also improved QoQ led by higher LME prices, but copper business remained subdued. Net debt was down 7% QoQ for the second consecutive quarter.
Jefferies expects Hindalco to deliver steady performance along with deleveraging. Jefferies reiterates Buy rating with revised price target of Rs 350: Reuters