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Buy Hindalco, price target Rs 225: CK Narayan

The analyst suggested a stop loss at Rs 214.

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Updated: Dec 31, 2019, 09.58 AM IST

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CK Narayan of Chart Advise has a buy call on Hindalco Industries Ltd. with a target price of Rs 225. The current price of Hindalco Industries Ltd. is Rs 217.6. CK Narayan recommended to keep a stop loss at Rs 214.

Hindalco Industries Ltd., incorporated in the year 1958, is a Large Cap company (having a market cap of Rs 48974.92 Crore) operating in Metals – Non Ferrous sector.

Hindalco Industries Ltd. key Products/Revenue Segments include Aluminium which contributed Rs 23610.88 Crore to Sales Value (51.60 % of Total Sales), Aluminium which contributed Rs 23610.88 Crore to Sales Value (51.60 % of Total Sales), Aluminium which contributed Rs 23610.88 Crore to Sales Value (51.60 % of Total Sales), Copper/Copper Products which contributed Rs 22138.28 Crore to Sales Value (48.39 % of Total Sales), Copper/Copper Products which contributed Rs 22138.28 Crore to Sales Value (48.39 % of Total Sales), Copper/Copper Products which contributed Rs 22138.28 Crore to Sales Value (48.39 % of Total Sales)for the year ending 31-Mar-2019.

For the quarter ended 30-09-2019, the company has reported a Consolidated sales of Rs 29657.00 Crore, down 1.05 % from last quarter sales of Rs 29972.13 Crore and down 8.77 % from last year same quarter sales of Rs 32507 Crore. Company has reported net profit after tax of Rs 973 Crore in latest quarter.

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Disclaimer: This recommendation is analyst’s own and does not represent those of economictimes.com & ETMarkets.com. Please consult your financial advisor before taking any position in the stock/s mentioned.

Source: Economic Times