AgenciesICICI Securities has sell call on Hindalco Industries with a target price of Rs 219. The current market price of Hindalco Industries Ltd. is Rs 233.35.
Hindalco Industries Ltd., incorporated in the year 1958, is a Large Cap company (having a market cap of Rs 52160.31 Crore) operating in Metals - Non Ferrous sector.
Financials
For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 31237.00 Crore, up 23.55 % from last quarter Sales of Rs 25283.00 Crore and up 5.33 % from last year same quarter Sales of Rs 29657.00 Crore Company reported net profit after tax of Rs 387.00 Crore in latest quarter.
Investment Rationale
Price closed below 20 days’ EMA and has given a breakdown below the last two weeks range (Rs 238-255) and MACD in sell mode
Promoter/FII Holdings
Promoters held 34.7 per cent stake in the company as of June 30, 2020, while FIIs held 18.8 per cent, DIIs 27.3 per cent and public and others 19.3 per cent.
Hindalco Industries Ltd., incorporated in the year 1958, is a Large Cap company (having a market cap of Rs 52160.31 Crore) operating in Metals - Non Ferrous sector.
Financials
For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 31237.00 Crore, up 23.55 % from last quarter Sales of Rs 25283.00 Crore and up 5.33 % from last year same quarter Sales of Rs 29657.00 Crore Company reported net profit after tax of Rs 387.00 Crore in latest quarter.
Investment Rationale
Price closed below 20 days’ EMA and has given a breakdown below the last two weeks range (Rs 238-255) and MACD in sell mode
Promoter/FII Holdings
Promoters held 34.7 per cent stake in the company as of June 30, 2020, while FIIs held 18.8 per cent, DIIs 27.3 per cent and public and others 19.3 per cent.
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