Hindalco Industries Limited's shares fell by more than 14% on Tuesday, reaching their lowest level in two months, after its American unit unexpectedly increased capital costs for a key project, while its scheduled commissioning was delayed by a year. According to exchange documents, Novelis Inc., the US unit, has raised the capital cost for a fully integrated aluminum rolling and recycling factory in the US to $4.1 billion, up from the earlier estimate of $2.5 billion.
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| Hindalco Industries faces steep decline |
Market Analysis: Hindalco's Future Outlook Amid Share Decline and Analyst Ratings
Hindalco Industries stated in an exchange statement that it anticipates the plant to begin operations in the second half of calendar year 2026. Hindalco Industries' shares plummeted 14.58% to ₹497.50, reaching their lowest level since November 20. As of 10:01 a.m., the stock was trading at ₹500.50, down 14.07%. This compares to a 0.29% increase in the NSE Nifty 50 index. It has climbed by 17.35% during the last year. The volume transacted so far today is 12 times more than the 30-day average. The stock was oversold, as indicated by a relative strength index of 29.87. According to Bloomberg statistics, 22 of the 25 analysts who cover the firm have a 'buy' rating, one has a 'hold' recommendation, and two have a'sell' advice. The consensus target price represents a 20.4% increase over the average 12-month consensus price.
