Hindalco’s Q4FY26 net profit halved due to exceptional charges, but surging aluminium and copper prices, Novelis’ Oswego plant restart, and upward earnings revisions by brokerages keep the medium-term outlook intact.
Hindalco’s shares hit a new high of ₹1,119.80 apiece on Monday.Investors have seen handsome gains recently, given the uptick in commodity prices. “Following the 20% rally (versus 8.4% for Nifty Metals) in the stock since the onset of the US-Iran conflict, valuations appear relatively demanding,” said Emkay Global Financial Services. Thus, it has downgraded the stock to ‘Add’ rating from ‘Buy,’ while increasing its target price to ₹1,200 from ₹1,100.
