External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

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Thematic (Sector/Industry)

<ul><li>Hindalco’s Indian operations delivered robust performance.</li><li>Overall consolidated revenue stood in line (down 1%/3% YoY/QoQ), while reported EBITDA grew by 61%/4% YoY/QoQ (15% beat), led by strong upstream Aluminium and copper division.</li><li>Nalco reported a strong set of numbers with Revenue/EBITDA/PAT beating ours and consensus estimates. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Hindalco’s Indian operations delivered robust performance.Overall consolidated revenue stood in line (down 1%/3% YoY/QoQ), while reported EBITDA grew by 61%/4% YoY/QoQ (15% beat), led by strong upstream Aluminium and copper division.Nalco reported a strong set of numbers with Revenue/EBITDA/PAT beating ours and consensus estimates. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Top Sector Ideas - Metals and Mining Q3FY24

Equity Bottom-Up

<ul><li>Hindalco’s Indian operations delivered robust performance.</li><li>Overall consolidated revenue stood in line (down 1%/3% YoY/QoQ), while reported EBITDA grew by 61%/4% YoY/QoQ (15% beat), led by strong upstream Aluminium and copper division.</li><li>The company’s consolidated PAT increased by 71%/6% YoY/QoQ to Rs 2,331 Cr, led by higher EBITDA.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Hindalco’s Indian operations delivered robust performance.Overall consolidated revenue stood in line (down 1%/3% YoY/QoQ), while reported EBITDA grew by 61%/4% YoY/QoQ (15% beat), led by strong upstream Aluminium and copper division.The company’s consolidated PAT increased by 71%/6% YoY/QoQ to Rs 2,331 Cr, led by higher EBITDA.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Hindalco Industries Ltd - Novelis Capex Overhang; Indian Operations Remain Strong

Hindalco Industries Ltd - Novelis Capex Overhang

<ul><li>Novelis delivered a largely inline set of results with Adj EBITDA/t improving by 33% YoY to $499/t on an impacted base of last year (due to higher energy costs and can destocking impact).</li><li>As was guided, Adj EBITDA/t dropped by 4% QoQ due to lower shipments at 910 kt (down 2% QoQ, flat YoY) on account of maintenance shutdown at Oswego hot mill.</li><li>Net sales at $3.9 Bn were down 6% YoY, led by lower Average Aluminium LME prices in Q3FY24 (down 6% YoY). </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Novelis delivered a largely inline set of results with Adj EBITDA/t improving by 33% YoY to $499/t on an impacted base of last year (due to higher energy costs and can destocking impact).As was guided, Adj EBITDA/t dropped by 4% QoQ due to lower shipments at 910 kt (down 2% QoQ, flat YoY) on account of maintenance shutdown at Oswego hot mill.Net sales at $3.9 Bn were down 6% YoY, led by lower Average Aluminium LME prices in Q3FY24 (down 6% YoY). Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Hindalco Industries Ltd - Adj. EBITDA/T Recovery as Expected

<ul><li>Z Score: The spread is currently negative between TCS and INFY, signaling a long signal on the spread, which means we believe it would retrace up towards the mean, which is the Z Score of 0</li><li>Lot Size: To ensure rupee neutral strategy, we suggest going long on TCS with 1 lot(s) and going short on INFY with 1 lot(s)</li><li>Returns Expectations: In the last 10 trades over the last 200 days, we have achieved 60% hit ratio over an average trade duration of 6.5 days. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Z Score: The spread is currently negative between TCS and INFY, signaling a long signal on the spread, which means we believe it would retrace up towards the mean, which is the Z Score of 0Lot Size: To ensure rupee neutral strategy, we suggest going long on TCS with 1 lot(s) and going short on INFY with 1 lot(s)Returns Expectations: In the last 10 trades over the last 200 days, we have achieved 60% hit ratio over an average trade duration of 6.5 days. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

India

Hindalco Industries Limited is an integrated aluminum manufacturer. The Company mines bauxite and refines it into alumina. The Company's other operations include the smelting of alumina into aluminum, the manufacture of semi-fabricated rolled and extruded products. The Company's products include aluminum ingots, steel rods and rolled flat steel products.

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Hindalco Industries (HNDL IN)

Top Sector Ideas - Metals and Mining Q3FY24

Overall consolidated revenue stood in line (down 1%/3% YoY/QoQ), while reported EBITDA grew by 61%/4% YoY/QoQ (15% beat), led by strong upstream...

Axis Direct

Hindalco Industries Ltd - Novelis Capex Overhang; Indian Operations Remain Strong

Overall consolidated revenue stood in line (down 1%/3% YoY/QoQ), while reported EBITDA grew by 61%/4% YoY/QoQ (15% beat), led by strong upstream...

Axis Direct

Hindalco Industries Ltd - Novelis Capex Overhang

Overall consolidated revenue stood in line (down 1%/3% YoY/QoQ), while reported EBITDA grew by 61%/4% YoY/QoQ (15% beat), led by strong upstream...

Axis Direct

Hindalco Industries Ltd - Adj. EBITDA/T Recovery as Expected

Novelis delivered a largely inline set of results with Adj EBITDA/t improving by 33% YoY to $499/t on an impacted base of last year (due to higher...

Axis Direct

Parallel Trades -16 January 2024

he spread is currently negative between TCS and INFY, signaling a long signal on the spread, which means we believe it would retrace up towards the...

Axis Direct

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