JP Morgan has maintained its ‘Overweight’ rating on Hindalco, with a target price of ₹670. The brokerage highlights an EBITDA beat in the Indian business, supported by lower costs and improved copper segment performance.
A key development for Hindalco is the allocation of the Meenakshi coal mine, which has a 12 million tonne per annum (MTPA) capacity, expected to enhance its raw material security. Additionally, the brokerage notes that ongoing projects remain on track, reinforcing the company’s growth trajectory.
However, JP Morgan flags US tariffs as a key factor to watch, as trade policies could influence Hindalco’s international business performance.
The current market price (CMP) of Hindalco is ₹604.40.
Disclaimer: The above stock update is based on brokerage reports and company announcements. Investors are advised to conduct their own research and consult with a financial advisor before making any investment decisions.
