Stock market analysts have maintained 'buy' rating on Hindalco Industries Ltd with an intraday target of Rs 156.

According to them, interested traders can purchase the stock above Rs 154 with a strict stop loss of Rs 150.

If the stock markets remain on the positive path then the stock price will hit a target above Rs 160.

Shares of the company, on Wednesday (Dec 23), closed at Rs 153.20 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 155.65 and a low of Rs 36.90 on BSE.

Current EPS & P/E ratio of the stock stood at 9.63 & 16.12 respectively.

The world's second-biggest copper manufacturer, Freeport-McMoRan Copper & Gold Inc has pocketed a 38% decline in processing charges from Hindalco.

The settlement for 2009 took place at $46.50 per metric ton for smelting ore and 4.65 cents per pound for refining on Dec. 22.

Hindalco Industries, on Dec 02, declared that it has assigned 2.13 billion equity shares to QIBs carrying a price tag of Rs 1 each at a premium of Rs 129.30.