17 AUGUST 2011business-standard
Near-term concerns
Edited by : AL CIRCLE
1 min read
While the standalone numbers were in line with analysts’ expectations, its global subsidiary Novelis, reported above-expected results.
Going ahead, given the prevailing global scenario, Hindalco is likely to face some challenges. The declining LME aluminium prices (around $2,412 at present) do not bode well. Analysts were concerned on Novelis, as demand for its automotive and electronic segment may get impacted in the near term. Due to the near-term concerns, analysts felt the stock (down 14.3 per cent over the last one month) may continue to remain under pressure.
Going ahead, given the prevailing global scenario, Hindalco is likely to face some challenges. The declining LME aluminium prices (around $2,412 at present) do not bode well. Analysts were concerned on Novelis, as demand for its automotive and electronic segment may get impacted in the near term. Due to the near-term concerns, analysts felt the stock (down 14.3 per cent over the last one month) may continue to remain under pressure.
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