Jefferies has reiterated a ‘Buy’ rating on Hindalco with a target price of ₹800/share, indicating a potential upside of 18.5% from the current market price.
The brokerage maintains a constructive view on the Indian metals sector, with a preference for Hindalco. A gradual improvement in demand from the US and China is expected in 2025, which is likely to drive growth for the company. Additionally, conversion spreads in steel and aluminum, currently below long-term averages, are projected to expand, providing further support to the sector’s recovery.
Jefferies highlights Hindalco as a strong player poised to benefit from improving market conditions and better demand dynamics.
Disclaimer: The above analysis is based on inputs provided and is for informational purposes only. It does not constitute financial advice. Readers are advised to consult their financial advisors before making any investment decisions.
