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HINDALCO - Hindalco Industries News Story

₹442.5 21.2  5.0%

Last Trade - 10:27am

Basic Materials
Large Cap
Market Cap £9.49bn
Enterprise Value £14.46bn
Revenue £16.53bn
Position in Universe 54th / 3176

BUZZ-MS cuts India's Hindalco Industries to 'equalweight' as volumes peak

Tue 20th March, 2018 5:27am
** Morgan Stanley cuts Hindalco Industries  HALC.NS  to
'equalweight' from 'overweight' and PT to 256 rupees from 292
    ** "Peaking of volumes, higher cost/tonne in the Indian
business and potential downside risk to Novelis' (co's unit)
margins from import duty on aluminium," reasons for downgrade -
    ** Brokerage remains constructive on Vedanta Ltd  VDAN.NS ,
focusing on volume growth and says potential cost efficiency
will drive EBITDA growth in FY19
    ** MS maintains 'overweight' on Vedanta, cuts PT to 386
rupees from 395 rupees
    ** Morgan Stanley raises PT on Coal India Ltd  COAL.NS  to
245 rupees from 221 rupees, maintains 'underweight' rating
saying there is lack of upside risk to earnings
    ** Coal India's rising capex will slow down free cash flow -
    ** Hindalco shares down 0.19 pct, Coal India down 0.18 pct
    ** Vedanta shares 5.6 pct lower as stock trades ex-dividend

 ((Reuters Messaging:
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