This is the first Broker Moves update since the beginning of FY24 earnings season in August. Through August, rather than doing our usual end of week summary, we instead covered broker consensus updates for individual companies as they reported earnings. As one might expect, with most of the big news in the market for many companies for the next six months, September does tend to be a relatively quiet month for broker research.
It’s been a few weeks now since the end of earnings season and this means that Market Index is now sitting on a critical mass of interesting broker moves, so it’s a good time to catch up. Let’s check which companies were upgraded, downgraded, and which attracted the biggest price target changes so far in September.
Hindalco signs MoU to invest ₹15000 crore in aluminium capacity expansion in Madhya Pradesh
EU expands sanctions on Russian aluminium: industry calls for closing loopholes
Fundamental weakness makes it difficult to sustain upward momentum in aluminium prices; short-term price correction observed
