Hindalco - Strength In Aluminium Prices Augurs Well: ICICI Direct
BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
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.
Click on the attachment to read the full report:
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.