HSBC raises PTs of India's Hindalco, NALCO on aluminium supply risks

HindalCo Industries

15/04/2026 07:27

** Shares of India's Hindalco HALC.NS up 3.45% at 1012.75 rupees and National Aluminium Co NALU.NS rise 1.35% to 423.40 rupees

** HSBC raises Hindalco PT to 1,310 rupees from 1,210 rupees and NALCO PT to 455 rupees from 425 rupees; reiterates "buy" ratings

** Brokerage cites persistent global aluminium supply-side challenges driven by Middle East disruptions and tighter availability outside China

** Expects higher aluminium prices, weaker rupee and cost tailwinds to drive 6%–10% EPS upgrades for Indian aluminium producers

** J.P. Morgan also reiterates positive view on aluminium producers as supply disruption risks lift prices; estimates a 1.9-million-tonne global deficit in 2026, largest in 26 years

** YTD, HALC up 10.32% and NALU gains 33%

 (Reporting by Surbhi Misra in Bengaluru)

 ((Surbhi.Misra@thomsonreuters.com |  X: https://twitter.com/SurbhiMisra_  |;))