Hindalco share price: Shares of Hindalco Industries slipped 0.3 percent to Rs 957 in early trade on Wednesday, even as global brokerages UBS and Nomura maintained their bullish outlook on the Aditya Birla Group company, citing its strong Q2 FY27 operating performance. While UBS sees a potential upside of 38 percent, Nomura expects earnings to soften in the December quarter before recovering in Q4.
UBS maintained its Buy rating on Hindalco with a target price of Rs 1,325, citing better-than-expected earnings driven by higher aluminium realisations and strong performance at subsidiary Novelis. Nomura also retained its Buy recommendation, with a target price of Rs 1,100, although it cautioned that Q3 FY27 could be the weakest quarter amid rising costs and normalisation of one-off gains.
Hindalco shares had ended marginally higher on Monday following a volatile session. Indian stock markets were closed on Tuesday for a holiday.
UBS highlighted Hindalco's stronger-than-expected operating performance in the September quarter, with consolidated EBITDA rising 43 percent year-on-year to Rs 12,800 crore, although it declined 8 percent sequentially. The EBITDA figure exceeded UBS estimates by 8 percent and market consensus by 15 percent, driven by higher aluminium realisations and a strong performance from US-based subsidiary Novelis.
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