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    500440   INE038A01020

HINDALCO INDUSTRIES LIMITED

(500440)
  Report
End-of-day quote Bombay Stock Exchange  -  2022-09-29
391.00 INR   +5.28%
06:42aIndian Indices Snap Losing Run; Hindalco Industries Jumps 5%
MT
05:25aINDIA STOCKS-Indian shares rise 2% as banks surge after RBI rate hike
RE
09/29Indian Indices Close Lower on Thursday; Asian Paints Slide 5%
MT
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Indian shares end flat as IT stocks drag, metals surge

08/10/2022 | 06:42am EDT

BENGALURU, Aug 10 (Reuters) - Indian shares ended little changed on Wednesday, as losses in technology stocks offet most of the gains in metals, while investors looked ahead to U.S. inflation data for clues on the pace of rate hikes from the Federal Reserve.

At close, the NSE Nifty 50 index was up 0.06% at 17,534.75, and the S&P BSE Sensex fell 0.06% to 58,817.29. The benchmark indexes swayed between gains and losses after hovering in early trade at near four-month highs hit in the previous session. Indian markets were closed on Tuesday for a holiday.

"We are seeing some sort of cautiousness in domestic equities because of the strong U.S. jobs data last week increasing probability of a bigger-sized rate hike by the Federal Reserve," said Shrikant Chouhan, head of retail equity research at Kotak Securities.

The market is likely to remain range-bound as investors look for the U.S. Consumer Price Index numbers, which will come in the evening, he added.

In Mumbai trading, Nifty's metal index closed 1.62% higher after scaling three-month highs earlier in the session.

Hindalco Industries closed 4.4% higher and was the top Nifty 50 gainer. The aluminium and copper producer reported a near 48% jump in quarterly profit. (https://bit.ly/3zLSDmH)

State-run coal miner Coal India rose 2.1% ahead of its quarterly earnings.

Nifty IT index, countering some of the gains, was the worst-performing sector and closed 0.89% lower, suffering a second straight session of loss.

Meanwhile, a Reuters poll showed that India's retail inflation likely eased in July due to a fall in food and fuel prices but stayed well above the Reserve Bank of India's upper tolerance limit for a seventh consecutive month. The domestic Consumer Price Index data is due on Friday.

Globally, equities markets were rattled on Wednesday as investors were reluctant to place bets ahead of U.S. inflation data later in the day.

(Reporting by Rama Venkat in Bengaluru; Editing by Saumyadeb Chakrabarty and Dhanya Ann Thoppil)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
COAL INDIA LIMITED -0.77% 212.25 Delayed Quote.46.46%
HINDALCO INDUSTRIES LIMITED 5.28% 391 End-of-day quote.-17.79%
NIFTY 50 1.64% 17094.35 Delayed Quote.-3.09%
NIFTY IT -0.92% 26981.15 Delayed Quote.-30.70%
S&P GSCI ALUMINUM INDEX -2.13% 136.1107 Real-time Quote.-22.02%
SENSEX BSE30 1.80% 57426.92 Real-time Quote.-3.17%
All news about HINDALCO INDUSTRIES LIMITED
06:42aIndian Indices Snap Losing Run; Hindalco Industries Jumps 5%
MT
05:25aINDIA STOCKS-Indian shares rise 2% as banks surge after RBI rate hike
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09/29Indian Indices Close Lower on Thursday; Asian Paints Slide 5%
MT
09/29INDIA STOCKS-Metals, energy lift Indian shares higher; cenbank actions eyed
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09/28INDIA STOCKS-Indian shares end near two-month lows on fears of global recession
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09/28Indian Indices Continue Losing Streak; Hindalco Industries Tops Losers
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Analyst Recommendations on HINDALCO INDUSTRIES LIMITED
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Financials
Sales 2023 2 005 B 24 567 M 24 567 M
Net income 2023 121 B 1 484 M 1 484 M
Net Debt 2023 361 B 4 426 M 4 426 M
P/E ratio 2023 7,13x
Yield 2023 1,31%
Capitalization 861 B 10 546 M 10 546 M
EV / Sales 2023 0,61x
EV / Sales 2024 0,62x
Nbr of Employees -
Free-Float 59,5%
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Technical analysis trends HINDALCO INDUSTRIES LIMITED
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Mean consensus BUY
Number of Analysts 21
Last Close Price 391,00 INR
Average target price 527,33 INR
Spread / Average Target 34,9%
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Managers and Directors
Satish P. Pai Managing Director & Executive Director
Anil Kishan Kumar Malik President, Secretary & Compliance Officer
Praveen Kumar Maheshwari Chief Financial Officer
Kumar Mangalam Birla Non-Executive Chairman
Vilas Tathavadkar Chief Technology Officer
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