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    Buy Hindalco, target Rs 148: BofA-ML

    Synopsis

    The Indian aluminum business will benefit from increased domestic coal availability. The subsidiary of Hindalco, Novelis is likely to benefit from stabilizing metal premiums

    BofA-ML reinstate coverage on Hindalco with a buy rating on Hindalco with a 12-month target price of Rs 148. Indian aluminum business is likely to benefit from higher utilization.

    The Indian aluminum business will benefit from increased domestic coal availability. The subsidiary of Hindalco, Novelis is likely to benefit from stabilizing metal premiums. BofA-ML sees improving in the balance sheet on the consolidated level.




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    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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