Vedanta to gain from strong aluminium cycle; Hindustan Copper outlook conservative: Anand Rathi
Published on 21/04/2026 04:12 PM
Vedanta to gain from strong aluminium cycle; Hindustan Copper outlook conservative: Anand RathiParthiv Jhonsa, Vice President of Anand Rathi Institutional Equities sees strong aluminium tailwinds supporting Vedanta, while calling Hindustan Copper’s guidance conservative amid firm copper price outlook and supply constraints.By Nigel D'Souza April 21, 2026, 4:12:36 PM IST (Published)2 Min ReadVedanta stands to benefit from a strong aluminium cycle, with supply disruptions and firm pricing expected to support earnings despite the recent rally in the stock, according to Parthiv Jhonsa, Vice President at Anand Rathi Institutional Equities.
Jhonsa highlighted that aluminium fundamentals remain robust, driven by global supply constraints. “About 8-9% of the global aluminium production, which is already out… it will take almost about 12-15 months to come back,” he said, pointing to prolonged disruptions that are likely to keep prices elevated.
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He added that pricing strength is already visible across markets. “It has already surpassed that $4,000 kind of mark for aluminium,” Jhonsa noted, factoring in premiums, London Metal Exchange (LME) prices and freight, which together support a strong earnings environment.
Beyond aluminium, Jhonsa remains constructive on the broader metals space, particularly copper. He believes Hindustan Copper’s guidance is conservative and underestimates potential earnings. “Definitely, I feel the numbers are a bit on a conservative side,” he said, stating that the company’s price assumptions are lower than current levels.
Even with more moderate production assumptions, profitability could remain higher than guided. “It still works out to good. 1900-2000 crore, kind of a profitability,” he said, indicating limited downside risk.
Also Read: Hindustan Copper stays cautious on prices, eyes sharp profit growth by 2030
Jhonsa’s outlook is supported by stronger price assumptions for copper going ahead. “What we have assumed in our coverage is about 12,500 per tonne kind of LME for 2027 and a similar number for 2028,” he added, citing supply constraints and delayed mine ramp-ups.
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