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The Economic Times

Debaroti Adhikary

Hindalco share price: Why brokerages are reiterating their Buy calls, raising target prices after Q1 earnings

Hindalco Novelis Motilal Oswal India JM Financial Hindalco Industries

Shares of Hindalco Industries dropped over 1% on Monday after the metals major’s Q1 earnings, but Motilal Oswal and JM Financial remain bullish on the stock, maintaining their ‘Buy’ ratings.

Hindalco Industries shares fell to Rs 1,046 apiece on the NSE on Monday morning. This came even as the company on Friday reported a 75% year-on-year (YoY) rise in consolidated net profit to a record high of Rs 7,013 crore for the first quarter of FY27, helped by strong performance across its India aluminium and copper businesses and a recovery at subsidiary Novelis.

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