HBSC sees impact of Oswego fire on India's Hindalco easing; retains 'Buy'

HindalCo Industries

18/02/2026 07:49

** Aditya Birla Group-owned metals producer Hindalco HALC.NS up 0.4% to 890.1 rupees

** HBSC retains "Buy"; keeps PT unchanged at 1,210 rupees

** Calls negative stock reaction to Novelis's Oswego fire, consolidated debt increase excessive

** Co posts 45% y/y fall in Q3 profit, hurt by expenses linked to fire-related disruptions at its U.S. unit Novelis last year

** Notes while March quarter could be another weak one for Novelis, net debt should decline from H2 FY27

** Believes large part of Oswego fire impact seen in Q3; impact will sequentially lessen in upcoming quarters as restart progresses

** Stock rated "Hold" on average; median PT is 913 rupees, per data compiled by LSEG

** YTD, HALC up 0.8%

 (Reporting by Mridula Kumar in Bengaluru)

 ((Mridula.Kumar@thomsonreuters.com;))