Stock market analyst Ashish Chaturmotha of Anand Rathi Securities is of the view that investors can 'sell' Hindalco Industries Ltd stock with target of Rs 120.

According to Mr. Chaturmotha, the investors can sell the stock with a stoploss of Rs 150.

If the stock fell below Rs 114, it may see more weakness.

After selling the stock, the interested investors can buy the stock again on declines for medium or long term.

Today, the stock opened at Rs 140 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 188.20 and a low of Rs 71.90 on BSE.

Current EPS & P/E ratio stood at 10.01 and 14.24 respectively.

Hindalco Industries has decided to lift up Rs 7,500 crore of debt under the project finance way to attain financial closure for Mahan Aluminium, its new factory project.

HindalcoMahan is a smelter-power plant complex is expected to be finished by September next year.

A source person near to the development said that Hindalco will offer up the mandate to the banking institutions by June 2010.

Hindalco Industries Ltd declared that a board meeting will take place on June 04 for consideration of the Audited Standalone and Consolidated Annual Accounts and Financial Results of the Company for the fiscal ended March 31 and dividend announcement for the same financial year.