“Neutral on Hindalco Industries, raising its target price to ₹1,140 apiece but maintaining a 'Hold' call. This stance reflects a less favorable outlook for aluminium prices, which are 10% below their June-quarter average. While supply disruptions occurred, increased Chinese output largely stabilized global production, and supply availability could improve as Middle East capacity returns by Q1 2027.”

Jefferies Analysis’s track record: 3 graded calls · 95% CI 44–100%