Motilal Oswal Maintains Buy Rating on Hindalco with Rs 1,110 Target Price

Motilal Oswal Financial Services maintains a 'Buy' rating on Hindalco Industries with a target price of Rs 1,110 per share, anticipating over 21% upside. The company expects robust domestic demand driven by renewable electrification, infrastructure spending, packaging, and electric vehicle adoption. Hindalco plans to mitigate rising energy costs from the Middle East conflict through captive coal mines by FY33, aiming for cost savings. Its Indian operations are nearly debt-free, while consolidated debt relates mainly to Novelis expansion. Expansion of value-added copper and aluminum products is also planned.