Hindalco down 12% in one month but remains positive for 2022 so far

ICICI Direct expects Hindalco to report a net profit of Rs 2,075 crore for the January-March period, up 218 percent on a year-on-year basis and 20 percent sequentially. Net sales are expected to increase 33 percent annually and four percent sequentially to Rs 19,235 crore, according to the brokerage.

It pegs the company's earnings before interest, tax, depreciation and amortization (EBITDA) to rise 111 percent and five percent on year-on-year and quarter-on-quarter bases respectively to Rs 3,972 crore.

Aluminium futures on Friday fell marginally to Rs 271.45 per kg as participants trimmed their positions on a low trend in the spot market. MCX aluminium for delivery in April declined by five paise or 0.02 percent in 1,910 lots. Analysts said cutting down of positions by participants, on easing demand from consuming industries, mainly kept aluminium prices lower.