Friday 31 October 2008

Hindalco Industries may rally upto Rs 70: N Pillai

Neppolian Pillai of Modern Shares & Stock Brokers is of the view that on the upside Hindalco could rally up to is about Rs 70.

Pillai told CNBC-TV18, "Hindalco is in metal cycle. It has completely turned for it to now revert on the upside; I think we are easily aware by about 12-18 months. So all these stocks be it a Sterlite Industries or a Hindalco or even a Tata Steel, I think they are going to feel the burn completely in the next 12 months. But for the time being at around the Rs 40 level Hindalco has taken support. On the upside, I think maximum it could rally up to is about Rs 70. Eventually, it is going to go towards the Rs 25 kind of levels."

Disclosure: It is safe to assume that analyst and his clients may have an investment interest in the above stock/sector.

Source: Moneycontrol

Posted by Harsh at 07:19

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)
DISCLAIMER: The author is not a registered stockbroker nor a registered advisor and does not give investment advice. His comments are an expression of opinion only and should not be construed in any manner whatsoever as recommendations to buy or sell a stock, option, future, bond, commodity, index or any other financial instrument at any time. While he believes his statements to be true, they always depend on the reliability of his own credible sources. The author recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction, before making any investment decisions, and that you confirm the facts on your own before making important investment commitments.