Hindalco share price rose by more than 5% during Wednesday’s trading session, fueled by strong volume. The stock is currently trading as one of the leading gainers on the Nifty 50.
Hindalco Industries reported a 30% increase in consolidated net profit, reaching ₹4,004 crore in the June quarter of FY26, attributed to improvements in operational efficiencies, cost management, and a better product mix.
The Aditya Birla Group entity had reported a net profit (profit after tax) of ₹3,074 crore during the same April-June period of the previous financial year, as stated in a company announcement released on Tuesday.
In the first quarter, the company noted a 13% increase in revenue from operations, which rose to ₹64,232 crore from ₹57,013 crore in the corresponding quarter last year, supported by higher average aluminium prices. The quarterly upstream revenue from the domestic aluminium sector climbed 6% to ₹9,331 crore, up from ₹8,839 crore in the June quarter of FY25.
Should you buy?
As per Axis Securities, Hindalco’s operations in India remained strong, counterbalancing the reduced profitability of Novelis. The consolidated revenue reached ₹64,232 crore, representing a 13% increase but a 1% decline QoQ, aligning with their forecast.
EBITDA amounted to ₹8,075 crore, showing a 6% year-over-year rise but a 16% QoQ drop, which is a 10% beat against their estimate and 3% above consensus, driven by strong performance in the aluminium sector. The underlying PAT was ₹4,004 crore, an 18% increase YoY but a 24% decline QoQ, falling 13% short due to higher EBITDA.
“We add investments at market price and CWIP at 50% to arrive at our TP of ₹770/share (from ₹775/share). The TP implies an upside potential of 15% from the CMP. We maintain our BUY rating on the stock,” said the brokerage.
Hindalco share price today
Hindalco share price today opened at an intraday low of ₹670.30 apiece on the BSE, the stock touched an intraday high of ₹705 per share. According to Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, Hindalco share price have shown strong momentum in today’s session, supported by significant volume over the past two sessions.
“With today’s price and volume breakout, the stock has broken its channel, and the formation of a strong bullish candle suggests further upward movement in the near term. Prices may target the 740-750 level, while any dips can be considered buying opportunities. Immediate support is at 680, with strong support around 660,” said Bhosale.