Event Update - Hindalco - ICICI Direct

We attended the investor meet of Hindalco wherein the company unveiled its capex plan with investments lined up in both Novelis as well as the India business.

- Hindalco has unveiled a capex plan of ~US$8 billion over the next five years. This capex would be incurred in FY23E-27E. Of the total capex, ~US$4.5-4.8 billion would be incurred at Novelis while ~US$3.37 billion would be spent on the India business

Key triggers for future price performance

- During FY23-27, Novelis has chalked out a capex plan of ~US$4.5-4.8 billion, of which ~US$3 billion is expected to be spent in North America, ~US$400 million in Asia, ~ US$300-400 million in Europe and ~ US$800-900 million in South America

- During FY23-27, the India business has chalked out a capex of US$3.37 billion, of which ~US$1.71 billion is expected to be spent on aluminium - upstream, ~US$719 million on aluminium - downstream, ~US$286 million on the copper Business, ~US$194 million on specialty alumina and ~US$459 million on coal mining operations

For details, click on the link below: Link to the report

Shares of Hindalco Industries Limited was last trading in BSE at Rs. 570.50 as compared to the previous close of Rs. 569.60. The total number of shares traded during the day was 578985 in over 12916 trades.

The stock hit an intraday high of Rs. 577.00 and intraday low of 561.70. The net turnover during the day was Rs. 329859787.00.

Source : Equity Bulls

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