BofA-ML reinstate coverage on Hindalco with a buy rating on Hindalco with a 12-month target price of Rs 148. Indian aluminum business is likely to benefit from higher utilization.The Indian aluminum business will benefit from increased domestic coal availability. The subsidiary of Hindalco, Novelis is likely to benefit from stabilizing metal premiums. BofA-ML sees improving in the balance sheet on the consolidated level.

Source: Economic Times June 21, 2016 07:15 UTC