External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

External broker reports(aggregated public sources)

ICICI Securities Ltd

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

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Equity Bottom-Up

<p>Hindalco’s decision to acquire Hydro's aluminium extrusions business in India (Kuppam in AP) for Rs2.5bn falls within the envelope of Hindalco’s ‘Doubling the downstream’ strategy wherein the company has entailed a capex of US$1.1bn. The plant will also serve as an archetype for Hindalco's upcoming extrusions plant in Silvassa (Rs7.3bn capex for 34ktpa greenfield plant).</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Hindalco’s decision to acquire Hydro's aluminium extrusions business in India (Kuppam in AP) for Rs2.5bn falls within the envelope of Hindalco’s ‘Doubling the downstream’ strategy wherein the company has entailed a capex of US$1.1bn. The plant will also serve as an archetype for Hindalco's upcoming extrusions plant in Silvassa (Rs7.3bn capex for 34ktpa greenfield plant).Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Look downstream, look converter series - Focus on downstream remains key to value creation

External broker reports(aggregated public sources), Motilal Oswal Financial Services Limited

Motilal Oswal

<p>We raise HNDL's FY22/FY23 EBITDA estimate by 3%/7% Novelis, Hindalco's wholly-owned subsidiary, reported record-high adj EBITDA of USD508m (adj for one-off income of USD47m) on the back of record-high margins of USD522/t (+2% QoQ). Novelis should see mix improvement in 2HFY22 and FY23 as the share of auto volumes should increase on account of capacity additions.</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

We raise HNDL's FY22/FY23 EBITDA estimate by 3%/7% Novelis, Hindalco's wholly-owned subsidiary, reported record-high adj EBITDA of USD508m (adj for one-off income of USD47m) on the back of record-high margins of USD522/t (+2% QoQ). Novelis should see mix improvement in 2HFY22 and FY23 as the share of auto volumes should increase on account of capacity additions.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Hindalco Industries: Margin Outlook Remains Strong

India

Hindalco Industries Limited is an integrated aluminum manufacturer. The Company mines bauxite and refines it into alumina. The Company's other operations include the smelting of alumina into aluminum, the manufacture of semi-fabricated rolled and extruded products. The Company's products include aluminum ingots, steel rods and rolled flat steel products.

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Hindalco Industries (HNDL IN)

Look downstream, look converter series - Focus on downstream remains key to value creation

Hindalco’s decision to acquire Hydro's aluminium extrusions business in India (Kuppam in AP) for Rs2.5bn falls within the envelope of...

ICICI Securities Limited

Hindalco Industries: Margin Outlook Remains Strong

We raise HNDL's FY22/FY23 EBITDA estimate by 3%/7%. Novelis, Hindalco's wholly-owned subsidiary, reported record-high adj EBITDA of USD508m (adj...

Motilal Oswal

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Look downstream, look converter series - Focus on downstream remains key to value creation

Hindalco’s decision to acquire Hydro&#x27;s aluminium extrusions business in India (Kuppam in AP) for Rs2.5bn falls within the envelope of...

ICICI Securities Limited

Hindalco Industries: Margin Outlook Remains Strong

We raise HNDL's FY22/FY23 EBITDA estimate by 3%/7%. Novelis, Hindalco's wholly-owned subsidiary, reported record-high adj EBITDA of USD508m (adj...

Motilal Oswal

Hindalco’s decision to acquire Hydro's aluminium extrusions business in India (Kuppam in AP) for Rs2.5bn falls within the envelope of...