Emkay sets INR 1,150 target for Hindalco stock

Published on 10/16/2026 at 10:46 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Revenue hit INR 848.25 billion in June, up 32.00 percent year over year. Emkay stress-tested Hindalco stock at USD 2,800 and USD 340 per tonne.

Catalysts and operating figures

Emkay set an INR 1,150 Hindalco target on October 16, 2026.
First-quarter revenue reached INR 848.25 billion, up 32.00 percent year over year.
Hindalco and AluChem ended a USD 125.00 million agreement on October 1, 2026.
Hindalco is scheduled to report results on November 6, 2026.

Hindalco, INE038A01020, Illustration mit AI erstellt.

Hindalco (ISIN INE038A01020) drew a INR 1,150 target from Emkay on October 16, 2026, according to BusinessToday. The same assessment said Hindalco was better placed than National Aluminium to withstand weaker aluminum prices because of its diversified earnings profile and downstream operations.

Why Emkay favors Hindalco

Emkay's stress test used an aluminum price assumption of USD 2,800 per tonne and an alumina assumption of USD 340 per tonne. The brokerage said Hindalco's valuation and downstream exposure could support the company even as the aluminum market adjusts to restored production and additional capacity.

The operating base was strong in the June 2026 quarter. First-quarter revenue reached INR 848.25 billion, up 32.00 percent from the prior-year quarter, while net income rose 75.00 percent to INR 70.13 billion, according to Simply Wall St. The figures give the target a concrete earnings backdrop, although the next report will test whether that pace can continue.

Three events shape the stock

Hindalco's recent chronology shows a strong quarter followed by a strategic setback and a fresh valuation view. On August 8, 2026, first-quarter net income was reported at INR 70.13 billion; on October 1, 2026, Hindalco and AluChem jointly terminated a proposed USD 125.00 million acquisition after extended closing delays; and on October 16, 2026, Emkay set its INR 1,150 target.

What comes next for earnings?

The next scheduled test is November 6, 2026, when Hindalco is set to report its second-quarter results, according to Simply Wall St. That date matters because the June quarter's 32.00 percent revenue growth and 75.00 percent net income growth set a high comparison base.

India quote and valuation

Hindalco was trading at INR 907.80 on the NSE on October 16, 2026 at 2:15 p.m. IST. Its market capitalization was INR 2.0 trillion, while the 52-week range stood at INR 766.00 to INR 1,176.00 on the same market-data snapshot.

Hindalco operates across aluminum, copper and Novelis, giving the company exposure to both upstream commodities and downstream products. The AluChem termination removes a USD 125.00 million acquisition from the near-term growth plan, but the company's specialty alumina strategy remains tied to value-added products and future opportunities in the United States, as Mugglehead reported on October 2, 2026.