Axis Securities has pegged a target price of Rs 2,100 for APL Apollo Tubes, riding on the company’s record-breaking quarterly performance.
India offers limited direct exposure to the global critical minerals theme. Apart from efforts by Hindustan Copper, NALCO & GMDC, the brokerage sees non-ferrous as the most effective proxies for this structural cycle.
SMC has a "Buy" rating on SBI, setting a target price of Rs 1036, which suggests a potential upside of 18 per cent from its current market price of Rs 880.75.
JM Financial maintained its Buy rating Tata Power and JSW Energy both companies, with a target price of Rs 726 for JSW Energy and Rs 436 for Tata Power.
With a cost of production at about $1,700 per tonne, well below China’s average of $2,300 per tonne, Hindalco Industries sits on the industry’s leading cost curve.
Target prices: Kotak Institutional Equities values Vedanta at Rs 450, Hindalco at Rs 705, Nalco at Rs 220, and Hindustan Zinc at Rs 350.
On the moving averages front, Hindalco was trading above its 50-day simple moving average (SMA) of Rs 702.2 and also comfortably above its 200-day SMA of Rs 653.5.
JM Financial has 'Buy' rating on Tata Steel with a target of Rs 185. It also has 'Buy' on JSW Steel (target price: Rs 1,280) and Jindal Steel (target price: Rs 1,200) and 'Sell on SAIL (target price: Rs 94).
Aluminium Upstream quarterly EBITDA stood at Rs 4,080 crore, up 17 per cent, with industry-best margins of 44 per cent. The Aluminium Downstream segment posted its highest-ever quarterly EBITDA of Rs 229 crore, surging 108 per cent YoY. Copper EBITDA came in at Rs 673 crore, in line with guidance.
Nuvama believes that Novelis' earnings have bottomed out and anticipates a revival starting Q4 FY26. The management aims to reduce costs by $100 million annually, improving the company's financial outlook.
Commenting on the railway segment, the market expert cautioned investors about heightened volatility.





