Hindalco shares are up 32 per cent in the last six months. Nuvama Institutional Equities has upped its FY25 and FY26 consolidated Ebitda estimates by 13 per cent and 12 per cent, respectively.
Given reasonable valuations and the improvement in end-market demand outlook at Novelis, the new fair value for the stock has been determined at Rs 675, a 26.2% increase from earlier Rs 535.
Novelis Inc has confidentially submitted a draft registration statement on form F-1 with the SEC relating to the proposed primary stake sale of its common shares.
Hindalco share price: Hindalco share price surged nearly 5% to Rs 536 in Wednesday s intraday trade on BSE after the firms subsidiary Novelis filed for an initial public offering (IPO) with the U.S. Securities and Exchange Commission (SEC).