TATASTEEL

vs

HINDALCO

: Macquarie Sees Strong Metal Cycle — Target Prices Reviewed

Both metal giants are poised to benefit from strengthening global and domestic price trends. However, according to Macquarie Group, the risk-reward outlook differs between the two stocks. Macquarie has assigned a 12-month target price of ₹240 to

, suggesting a potential upside of around 14%, along with an ‘outperform’ rating, reflecting confidence in its growth trajectory. In contrast, has been given a ‘neutral’ rating with a target price of ₹1,080, indicating a relatively modest upside of about 5%. While both companies are expected to gain from favorable metal market dynamics, Tata Steel is seen as better positioned for a recovery in earnings, supported by improving fundamentals. Meanwhile, Hindalco’s short-term upside could remain limited, influenced by valuation concerns and hedging-related pressures. Investment in securities market are subject to market risks. Read all the related documents carefully before investing