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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 | 06:44am EDT

BENGALURU, Aug 27 (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.

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 0.52% 473.05 End-of-day quote.96.69%
LARSEN & TOUBRO LIMITED -0.45% 1783.25 End-of-day quote.38.50%
NATIONAL ALUMINIUM COMPANY LIMITED 0.58% 103.8 End-of-day quote.140.84%
SPICEJET LIMITED -0.75% 72.55 End-of-day quote.-23.59%
All news about HINDALCO INDUSTRIES LIMITED
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Analyst Recommendations on HINDALCO INDUSTRIES LIMITED
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Financials
Sales 2022 1 760 B 23 437 M 23 437 M
Net income 2022 116 B 1 544 M 1 544 M
Net Debt 2022 433 B 5 768 M 5 768 M
P/E ratio 2022 9,17x
Yield 2022 0,86%
Capitalization 1 053 B 14 027 M 14 019 M
EV / Sales 2022 0,84x
EV / Sales 2023 0,76x
Nbr of Employees -
Free-Float 58,3%
Chart HINDALCO INDUSTRIES LIMITED
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Technical analysis trends HINDALCO INDUSTRIES LIMITED
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TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 25
Last Close Price 473,05 INR
Average target price 556,52 INR
Spread / Average Target 17,6%
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 LIMITED96.69%13 967
ALUMINUM CORPORATION OF CHINA LIMITED98.54%16 562
NORSK HYDRO ASA64.22%16 044
ALCOA CORPORATION122.00%9 213
EN+ GROUP INTERNATIONAL29.81%6 782
ALUMINA LIMITED14.99%4 508