Hindalco Shares: Technicals Turn Positive, SEBI RA Sees Over 25% Upside Potential After Strong Q1

Hindalco’s rally may just be starting. Its shares have surged nearly 10% in the last three months and its technical charts are flashing bullish signals, according to SEBI-registered analyst Mayank Singh Chandel.

What’s Driving The Optimism?

Hindalco reported a strong start to FY26 with profits rising 30% at ₹4,004 crore.

Chandel noted that its aluminium upstream EBITDA rose 17% to ₹4,080 crore, with best-in-industry 44% margins. While aluminium downstream EBITDA came in at record ₹229 crore, up 108%. Its copper business posted an EBITDA at ₹673 crore, as per guidance. 

Novelis reported 1% rise in shipments to 963 kilotonnes (KT), with can volumes rising 8%. 

The company reiterated its cost-saving targets of $100 million by fiscal year 2026 and $300 million by fiscal year 2028. And it is on track to achieve expansion in Bay Minette and India projects.

Chandel also highlighted that its net debt/EBITDA has reduced to 1.02x from 1.24x last year, improving its financial position. 

Bullish Technical Outlook

Hindalco stock jumped nearly 5% on Wednesday with high volumes, showing strong buying interest. It is trading above its 100-day Exponential Moving Average (EMA) and 200-day EMA, which signals a strong and positive trend. 

Chandel said that if the stock breaks and holds above ₹715, a strong upward move can start. The nearest support is seen around ₹655, while on the upside, the next targets are identified at ₹744.80 and then ₹888. 

He concluded that the chart looks positive, and good June quarter (Q1 FY26) results make the outlook even better. Chandel recommended traders to add Hindalco to their watchlist.

What Is The Retail Mood?

Data on Stocktwits shows that retail sentiment has moved from ‘bearish’ to 'neutral' amid ‘high’ message volumes. 

Hindalco shares have risen 15% year-to-date (YTD). 

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