Thursday, December 4, 2008

>Hindalco Industries(Macquarie Research)

􀂃 Aluminium outlook weakens: Our commodity team believes that aluminium
inventory build-up is happening due to a lack of demand in spite of production
cuts; this will limit any increase in aluminium prices from current levels. We
are reducing our target price by 34% to Rs73 to factor in changes to our
commodities price forecast.

To read full report Hindalco Industries(Macquarie Research)