DAM Capital initiates coverage on Hindalco with buy rating, sees 37% upside

Brokerage firm DAM Capital gave Hindalco a 'Buy' rating, targeting a price of Rs 905. The firm highlighted Hindalco's strong aluminium and copper operations, projecting robust demand, especially from China. Hindalco plans to invest heavily in new facilities in North America and India, with a significant portion allocated to Novelis for capacity expansion.