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    500440   INE038A01020

HINDALCO INDUSTRIES LIMITED

(500440)
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Metal stocks drive Indian shares to record high ahead of Fed Chair's speech

08/27/2021 | 09:42am EDT
FILE PHOTO: People walk past the Bombay Stock Exchange (BSE) building in Mumbai

BENGALURU (Reuters) - Indian shares closed at a record high on Friday, as metal and infrastructure stocks rose ahead of Federal Reserve Chair Jerome Powell's speech due later in the day.

The blue-chip NSE Nifty 50 index, which hit an all-time high during the session, closed 0.41% higher at 16,705.20, while the benchmark S&P BSE Sensex ended up 0.31% at 56,124.72 points.

Both indexes are on track to clock their fourth consecutive monthly gain in a market flush with liquidity, as the country ramps up its COVID-19 immunization program.

Global shares held steady near record highs as investors caught their breath ahead of a much-anticipated speech by the U.S. Fed chief that could give clues about when the central bank will start tapering its bond-buying programme. [MKTS/GLOB]

In Mumbai trading, the rate-sensitive Nifty Bank index ended up 0.03% after falling as much as 0.73%, as the market hoped for a definite sense of direction from the long-awaited Fed speech.

The Nifty Metals index recorded its first weekly gain in three, closing 1.63% higher, helped by strong gains in aluminium producers.

Shares of Hindalco Industries Ltd and National Aluminium Co were up 3.3% and 7.9% respectively, after China's Xinjiang region imposed output limits on five aluminium smelters.

Shares of engineering and construction company Larsen & Toubro Ltd jumped as much as 4.4% to 1,666.70 rupees after brokerage Motilal Oswal raised its target price on the stock to 1,950 rupees.

The Nifty Pharma index snapped its two-day losing streak to close 1.38% higher.

Budget airline SpiceJet Ltd closed 2.7% higher after the country's air safety regulator cleared Boeing's 737 MAX aircraft to fly with immediate effect on Thursday.

A deadly attack in Afghanistan on Thursday, which killed scores of civilians and at least 13 U.S. troops, also weighed on global sentiment.

(Reporting by Shivani Singh in Bengaluru; editing by Uttaresh.V and Vinay Dwivedi)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
HINDALCO INDUSTRIES LIMITED 1.53% 516 End-of-day quote.114.55%
LARSEN & TOUBRO LIMITED 2.12% 1789.1 End-of-day quote.38.95%
NATIONAL ALUMINIUM COMPANY LIMITED 2.23% 107.55 End-of-day quote.149.54%
SPICEJET LIMITED -1.54% 76.5 End-of-day quote.-19.43%
All news about HINDALCO INDUSTRIES LIMITED
10/06Indian Indices Tumble Midweek; SBI Life Insurance Tanks 4%
MT
10/06Indian shares slide on inflation concerns; metals decline the most
RE
10/05Indian Indices End Higher for Second Consecutive Day on Tuesday; Oil & Natural Gas Soar..
MT
10/04Indian Benchmarks Open the Week in Green; Divi's Laboratories Soars 8%
MT
09/23Indian Benchmarks Settle in Green on Thursday; Bajaj Finserv Jumps 5%
MT
09/22LARSEN & TOUBRO : Commissions Alumina Refinery Expansion Project for Hindalco Unit
MT
09/20Indian Indices Open the Week Lower; Tata Steel Tanks 10%
MT
09/17Indian Indices End the Week in Red; Kotak Mahindra Bank Jumps 5%
MT
09/13Indian Indices Open the Week in Red; Coal India Jumps 4%
MT
09/06Indian shares near record highs on Reliance gains, firm Asian markets
RE
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Analyst Recommendations on HINDALCO INDUSTRIES LIMITED
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Financials
Sales 2022 1 750 B 23 334 M 23 334 M
Net income 2022 112 B 1 497 M 1 497 M
Net Debt 2022 440 B 5 866 M 5 866 M
P/E ratio 2022 10,3x
Yield 2022 0,82%
Capitalization 1 148 B 15 308 M 15 312 M
EV / Sales 2022 0,91x
EV / Sales 2023 0,84x
Nbr of Employees -
Free-Float 58,4%
Chart HINDALCO INDUSTRIES LIMITED
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Technical analysis trends HINDALCO INDUSTRIES LIMITED
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 24
Last Close Price 516,00 INR
Average target price 540,96 INR
Spread / Average Target 4,84%
EPS Revisions
Managers and Directors
Satish P. Pai Managing Director & Executive Director
Anil Kishan Kumar Malik President, Secretary & Compliance Officer
Praveen Kumar Maheshwari Chief Financial Officer & Director
Kumar Mangalam Birla Non-Executive Chairman
Pradip K. Banerjee Chief Technology Officer
Sector and Competitors
1st jan.Capi. (M$)
HINDALCO INDUSTRIES LIMITED114.55%15 277
ALUMINUM CORPORATION OF CHINA LIMITED97.81%17 087
NORSK HYDRO ASA76.82%17 076
ALCOA CORPORATION110.85%9 082
EN+ GROUP INTERNATIONAL24.04%6 480
ALUMINA LIMITED23.71%4 926