HINDALCO: Bounce Back with Institutional Confidence – Targets ₹7

5 日前

"HINDALCO: Bounce Back with Institutional Confidence – Targets ₹712 & ₹772"

Stock: Hindalco Industries Ltd. (HINDALCO)

Analysis:
HINDALCO has shown a strong rebound from its major support zone after a significant correction. The stock is supported by positive institutional activity and robust financial performance, indicating potential for further upside.

Key Highlights:

Institutional Confidence:
LIC’s Recent Purchase: Increased stake by 0.01% via open market, making its total holdings 5%.
FII/FPI Holdings: Increased from 27.18% to 28.58% in Sep 2024 quarter.
Number of FII/FPI Investors: Rose from 1117 to 1145, showing growing interest.
Mutual Funds: Increased participation with schemes rising from 43 to 44.
Institutional Investors: Total holdings up from 56.67% to 56.83%.
Financials:
Net Profit: ₹1,891 Cr, a stellar 123.3% YoY growth.
Revenue: ₹23,087 Cr, a solid 10.8% YoY growth.
Technical Setup:

The stock has bounced back from its major support zone with momentum.
RSI and other indicators suggest further upside potential.
Trade Plan:

CMP: ₹667 (example).
Targets: ₹712 (initial target), ₹772 (next level).
Stop Loss: Below ₹640 to manage risks.
Disclaimer:
This analysis is for educational and informational purposes only and should not be considered as financial advice. Please conduct your own research or consult a financial advisor before making any investment decisions.