Hindalco Industries and Hindustan Copper signed a Memorandum of Understanding (MoU) for the long-term purchase and sale of copper concentrate produced by Hindustan Copper.

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Hindalco Industries Ltd is down for a fifth straight session today. The stock is quoting at Rs 178.25, down 1.11% on the day as on 13:29 IST on the NSE. The benchmark NIFTY is down around 0.76% on the day, quoting at 11231.25. The Sensex is at 38089.93, down 0.72%.Hindalco Industries Ltd has lost around 0.2% in last one month.Meanwhile, Nifty Metal index of which Hindalco Industries Ltd is a constituent, has increased around 0.96% in last one month and is currently quoting at 2376.85, down 0.95% on the day. The volume in the stock stood at 169.39 lakh shares today, compared to the daily average of 167.02 lakh shares in last one month.

The benchmark September futures contract for the stock is quoting at Rs 179.45, down 0.58% on the day. Hindalco Industries Ltd tumbled 7.86% in last one year as compared to a 1.77% rally in NIFTY and a 2.5% fall in the Nifty Metal index.

The PE of the stock is 65.05 based on TTM earnings ending June 20.

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Hindalco Industries has allotted 68,035 equity shares of face value of Re. 1/- each to the optionees as detailed in the resolution, pursuant to the exercise of the options granted to the employees under the Company's Employee Stock Option Scheme.

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Hindalco Industries announced that the 61st Annual General Meeting (AGM) of the company will be held on 10 September 2020.

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