Hindalco Best Stock In Non-Ferrous Space: Go India Advisors’ Rakesh Arora
Vedanta and Hindustan Zinc's earnings can come under pressure weighed down by falling in zinc prices, Arora, managing partner at the investment advisory, told BloombergQuint in an interaction. Zinc prices have fallen 20 percent, while aluminium prices have declined 10.5 percent in the last one month on the London Metal Exchange.
As aluminium prices have already fallen, the outlook for related stocks was not that bullish and chances of a downgrade for these would be limited, said Arora as he explained why he preferred Hindalco, which has integrated aluminium businesses. Also, a large part of its earnings come from rolling business and the U.S. which are doing well, he added.
Watch the entire conversation here: