Hindalco - Metal Meltup
With metals continuing to melt upwards..
Hindalco with its upcoming IPO of Novelis could have some huge rerating triggers..
Long above 662 with a stoploss below 643. The stock would breakout into a new high on the backing of firm metal prices..
The Novelis story is the company is owned by Hindalco and is looking to IPO on the US markets at a valuation of 18B. Hindalco's valuation itself is 18B so the rest of the business comes for free. (I do understand holding company discounts will apply but this is a great debt reduction trigger for Hindalco).
Getting high cash from profits + IPO money mean the co can safely embark on a large expansion plan going ahead. (Which could come in Copper or some other metal space)
Hindalco with its upcoming IPO of Novelis could have some huge rerating triggers..
Long above 662 with a stoploss below 643. The stock would breakout into a new high on the backing of firm metal prices..
The Novelis story is the company is owned by Hindalco and is looking to IPO on the US markets at a valuation of 18B. Hindalco's valuation itself is 18B so the rest of the business comes for free. (I do understand holding company discounts will apply but this is a great debt reduction trigger for Hindalco).
Getting high cash from profits + IPO money mean the co can safely embark on a large expansion plan going ahead. (Which could come in Copper or some other metal space)
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