Despite recent declines, these businesses continue to maintain strong profitability metrics and sectoral leadership, making them attractive for value-oriented investors who are patient and selective.
Target prices: Kotak Institutional Equities values Vedanta at Rs 450, Hindalco at Rs 705, Nalco at Rs 220, and Hindustan Zinc at Rs 350.
Nalco’s stock is factoring in alumina price of $450 per tonne, said Emkay Global. It sees upside skew in earnings for Nalco and Vedanta, with Ebitda upgrade potential of 16.8 per cent and 4.4 per cent, respectively.
Nalco's price-driven earnings may peak out soon but the structural cost advantage from captive coal is expected to remain, said ICICI Securities.
An analyst from Arihant Capital is observing that prices of PNB have taken support at Rs 94 level after a prolonged downtrend and are in making higher highs on the daily chart.
Indian aluminium companies were rallying higher on Monday as China said it would cancel export tax rebates, fuelling worries that a heavy flow of shipments abroad may be curbed.
Major metal stocks were bleeding during the trading session on Tuesday as the stimulus announced in China failed to boost the morale of Indian metal counters.
The report from SMC Global Securities said that L&T Finance is focused on boosting customer acquisition by developing a strong sales funnel and expanding its product offerings.
An analyst from LKP Securities said that National Aluminium has given a swing high breakout on the daily timeframe. The stock has been sustaining above the critical moving average.
An analyst from YES Securities said that Nalco has experienced a gradual decline to the Rs 184-180 range where it appears to be bottoming out and consolidating on the daily charts.
Jio Financial Services shares were up 3.57 per cent at Rs 383.30 post its March quarter results. Nalco Ltd recoded volume of 2,59,64,210 shares while Tata Steel registered volume of 2,02,10,393 shares.





