After Hindalco Industries posted a 48% fall in its standalone Q4FY23 net profit on Wednesday, CLSA maintained a ‘Buy’ rating on the metal stock while Kotak recommends an ‘Add’. Meanwhile, Nuvama has a ‘Hold’ stance on the counter. Hindalco’s profit after tax (PAT) stood at Rs 832 crore for the quarter ended March. It was … Read more
A benign US dollar could be good news for metals and one stock that may see a pullback due to this is Hindalco Industries. The share has a potential upside of 6% in the near term based on current momentum. Hindalco shares have underperformed not just the Nifty50 but also the Nifty Metal Index in … Read more
Indian market closed in the red for the 5th consecutive day in a row on Wednesday tracking muted global cues. The S&P BSE Sensex fell more than 300 points while the Nifty50 closed below 17,000 on Wednesday. Sectorally, buying was seen in utilities, power, metals, and consumer durable stocks while selling was visible in telecom, … Read more
Global brokerage JP Morgan maintained an overweight rating on , HSBC initiated coverage on Kalyan Jewellers, Macquarie retained underperform on , and Citigroup maintained buy rating on GCPL. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: JP Morgan on Hindalco: Overweight| Target Rs 560JPMorgan maintained an overweight … Read more
Global brokerage firm JPMorgan maintained its overweight rating on and Indigo, BofA Securities maintained its underperform rating on Bharat Forge, and CLSA recommended a buy on . We have collated a list of recommendations from top global brokerage firms from ETNow: JPMorgan on Hindalco: Overweight| Target Rs 565 JPMorgan maintained its overweight rating on Hindalco … Read more
The Indian market started on a firm note on Monday tracking positive global cues. The S&P BSE Sensex rallied more than 100 points while Nifty50 reclaimed 17,200 levels in the first 15-minutes of trade. Sectorally, buying was seen in auto, metals, consumer discretionary, power, and telecom while some profit booking was seen in realty, IT, … Read more
Metal stocks have been under tremendous selling pressure in the last few months. Shares of have fallen over 49 per cent from its recent March 2022 highs putting the stock firmly in bear grip. in its recent report said that the stock offers an attractive risk-reward post the recent correction. It noted that the drop … Read more
MUMBAI: Aluminium stocks are proving to be the last man standing in the metal pack given the withering gains of steel stocks these past few weeks. While the rosy outlook for the sector has diminished towards the end of the year, investors seem particularly bullish that aluminium companies will maintain their stronghold. That bullishness was … Read more