Buy, Sell or Hold: Morgan Stanley initiates coverage on Hindalco; Emkay Global downgrades Hitachi Energy

Brokerages show mixed views on metals, mining, and power equipment stocks. Morgan Stanley initiated coverage on Hindalco with an 'Overweight' rating, citing improving aluminium fundamentals and Novelis recovery. Conversely, Emkay Global downgraded Hitachi Energy India to 'Reduce' due to stretched valuations, despite strong execution. Morgan Stanley also flagged potential near-term volatility for Coal India following a government stake sale announcement.