Hot Chips

Hindalco Industries, the metal flagship company of the Aditya Birla Group is the world’s largest aluminum rolling company and one of the biggest producers of primary aluminum in Asia. The company’s smelter is the world’s largest copper smelter at a single location. The company will announce its Q2FY10 result on October 31, 2009 and is expected to post decent growth on a quarterly basis due to hardening of metal prices. Recently, the company’s management has expressed its interest in putting its alloy wheel assets on sale, which nearly roll three lakh wheels per annum for carmakers like Maruti, Ford, etc. The counter in the last few trading sessions has also witnessed significant addition of open interest along with decent rise in the volumes and price in the Futures & Options space. A leading broking house has given a buy call on the counter with a price target of 5-10 per cent on its CMP in the coming period. Therefore, investors can take exposure in the counter with a medium to long-term perspective.