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ICICI Direct Report
Strong aluminium prices coupled with healthy performance from Novelis augurs well for Hindalco Industries Ltd.
Global aluminium prices on the London Metal Exchange witnessed a sharp rally during the current calendar year.
Aluminium prices on the LME have increased from $2028/tonne in January 4, 2021 to $3149/tonne on October 15, 2021, indicating an increase of 55% in the period.
Increase in aluminium prices augurs well for an integrated player like Hindalco Industries (domestic operations).
In the last few quarters Novelis has been reporting a healthy performance, which has aided Hindalco’s consolidated performance.
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