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Birla to up stake in Hindalco

Posted on: September 19th 2009 in Stock News.

Novelis to make operational profit from 2012-13, says Kumar Birla at AGM. Aditya Birla Group Chairman Kumar Mangalam Birla plans to increase his shareholding in aluminium producer Hindalco Industries from open market purchases. He did not specify the timeframe or amount of stake that he w…

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Sell Hindalco, target of Rs 62: IIFL

Posted on: July 1st 2009 in Brokerage Recommendations.

IIFL has recommended a sell rating on Hindalco, with 12-month price target of Rs 62, in its report dated July 1, 2009. “Hindalco’s stock price has appreciated by 64% over the past three months. At the current price, the stock is trading at 6.5x EV/EBIDTA on FY10ii. At the consoli…

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