Hindalco stock falls 3% on weak Q4 earnings by Novelis, but brokerages stay positive. What should investors do?
Hindalco’s US subsidiary Novelis reported a drop in March quarter results. But, JP Morgan is optimistic that the counter will see an upside of up to 12% and recommends a ‘buy’ for a price target of Rs. 490. Meanwhile, Kotak has an ‘add’ rating on Hindalco stock and sees a 4% upside with a target of Rs. 455.
