Motilal Oswal: Hindalco’s Volume Outlook Continues To Strengthen  
The reception desk at Hindalco Ltd. office in Mumbai. (Photo: BloombergQuint).

Motilal Oswal: Hindalco’s Volume Outlook Continues To Strengthen  

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.

Motilal Oswal Report

Hindalco Industries Ltd.’s volume recovery witnessed in global automotive and beverage can businesses in May-June 2020 has strenghtened in Q2 FY21.

This has been confirmed by the reported results of Norsk Hydro, Alcoa and Crown Holdings (a key customer of Novelis).

Excluding Aleris Corporation, we expect Novelis’ volumes to decline only approximately 5% YoY in Q2 FY21 (versus 15% decline in Q1 FY21) and grow 3-4% in Q3 FY21.

Including Aleris, we expect volumes to grow 5%/14% YoY in Q2 FY21/Q3 FY21.

Click on the attachment to read the full report:

Motilal Oswal Hindalco Company Update.pdf


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