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    Fundamental Radar: What’s likely to strengthen Hindalco’s foothold in the industry?

    Holding a bullish view on the company, the brokerage firm has initiated coverage on the stock with a “buy” rating and a target price of Rs 663.

    Synopsis

    The acquisition of US-based Novelis back in 2007 made Hindalco the world’s largest aluminium rolling company. Novelis is a key contributor to Hindalco’s earnings, commanding more than 50% of EBITDA earnings share.

    MUMBAI - Hindalco Industries is the metals flagship company of the Aditya Birla Group, involved in the business of aluminium and copper, and operates across ten countries globally. Hindalco is one of Asia’s largest producers of primary aluminium (excluding China) as also the world’s largest aluminium rolling and recycling company.The company’s aluminium smelting operations are located at Uttar Pradesh, Odisha, and Madhya Pradesh, with a combined
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    The Economic Times