According to technical analysis of Fib Retracement, the first share price target for 2023 is Rs.485, with a second target of Rs.502.
Hindalco is working to increase its manufacturing capacity to meet the increasing demand for aluminum and copper, both in India and in international markets. As the company expands its capacity and meets this growing demand, its share price is expected to reach a first target of Rs.520 in 2024, with a second target of Rs.542.
In 2025, the first share price target for Hindalco is Rs.575, with a second target of Rs.598.
The management’s plan to acquire more companies in the sector is expected to continue, leading to a further increase in market share for Hindalco.
In the coming years, Hindalco is expected to continue expanding its business in international markets, leading to a first share price target of Rs.610 in 2026, with a second target of Rs.633.
The majority of the company’s global market business is run through its subsidiary company, Novelis Incorporation. In addition to India, 78% of the company’s revenue comes from the global market.
In 2030, the first share price target for Hindalco is Rs.740, with a second target of Rs.770.