Long in HINDALCO.No matters how bullish the Markets sound to be we can always find good undervalued stocks, Hindalco is one of those company we are going to talk about.
Company majorly deals with Aluminum and copper, where it is a market leader in Aluminum rolling and recycling.
Stock has corrected more than 50% from its peek last year. why is that case, '' because in just two years of period stock has given 600% of massive runup and later on rally ended with fair correction. There is no any fundaments related issue till date. Sales and revenue seem pretty stable while FII stack has drastically increased.
Stock has formed strong support level where it has retested multiple times and move up. We can aim at least for 30% from this juncture.
It was completely my Analysis. Not a recommendation from my side, Please consult you finance adviser before investing
If you liked this Analysis do like and follow.
