Long Term Buy Call For Hindalco

Long Term Buy Call For HindalcoStock market analyst P Phani Sekhar of Angel Broking has maintained 'buy' rating on Hindalco stock with a long term target of Rs 270.

The stock can be bought around Rs 200-210.

According to analyst, the investors can achieve the target within a period of 12 months.

Today, the stock of the company opened at Rs 226 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 239.35 and a low of Rs 127.10 on BSE.

Current EPS & P/E ratio stood at 10.76 and 20.74 respectively.

Hindalco Industries announced that its second-quarter net profit jumped 26% to Rs 433.81 crore as against Rs 344.05 crore during the same period of 2009.

The company's revenues during July-September period remained up by 19% at Rs 5,860 crore.

In a declaration, the company said, "The company benefited from higher aluminium London Metal Exchange (LME) and better by-product realisation in its copper business."

In spite of lower metal volumes because of power failure at its Hirakud smelter, the company announced that it was capable of recording good growth owing to better product and geographic mix, and augmented realization.

Company said that its revenues from the aluminium biz surged 19% to Rs 1,911 crore as against Rs 1,649 crore during the same period of last year.