Hindalco Industries Ltd Share Price – NSE  /  BSE

Non Ferrous Metals, Mid Cap

Hindalco Industries Ltd gained for a third straight session today. The stock is quoting at Rs 598, up 1.6% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.24% on the day, quoting at 22696.05. The Sensex is at 74842.83, up 0.21%. Hindalco Industries Ltd has risen around 12.05% in last one month.

Meanwhile, Nifty Metal index of which Hindalco Industries Ltd is a constituent, has risen around 9.39% in last one month and is currently quoting at 8894.4, up 1.47% on the day. The volume in the stock stood at 68.54 lakh shares today, compared to the daily average of 63.45 lakh shares in last one month.

The benchmark April futures contract for the stock is quoting at Rs 598.55, up 1.24% on the day. Hindalco Industries Ltd is up 43.22% in last one year as compared to a 28.06% jump in NIFTY and a 59.23% jump in the Nifty Metal index.

The PE of the stock is 42.69 based on TTM earnings ending December 23.

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Hindalco Industries will hold a meeting of the Board of Directors of the Company on 24 May 2024.

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Novelis Inc. has confidentially submitted a draft registration statement on form F-1 with the US SEC relating to the proposed initial public offering of its common shares. The common shares are expected to be offered by Novelis’ sole shareholder i.e., A V Minerals (Netherlands) N.V., a fully owned subsidiary of Hindalco Industries.

Further, Novelis will not receive any proceeds from the sale of common shares by its sole shareholder. It expects to complete the public offering after the SEC completes its review process, subject to market and other conditions.

Under confidential IPO filing, the DRHP (containing vital information about the company's business and financials) is made available only to the regulator and not to the public at large.

Novelis Inc. is a leading global provider of sustainable aluminum solutions and the world leader in aluminum rolling and recycling.

Hindalco Industries' wholly-owned subsidiary, Novelis Inc, reported net income of $121 million in Q3 FY24, significantly higher from $12 million in Q3 FY23. However, net sales declined 6.33% YoY to $3,935 million for the third quarter of FY24,

Hindalco Industries, the metals flagship company of the Aditya Birla Group, is the world's largest aluminium company by revenues, and a major player in copper. It is also one of Asia's largest producers of primary aluminium.

The Aditya Birla Group company’s consolidated net profit climbed 71.14% to Rs 2,331 crore in Q3 FY24 as against with Rs 1,362 crore posted in Q3 FY23. Revenue from operations declined 0.64% YoY to Rs 52,808 crore during the quarter.

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Hindalco Industries Ltd gained 2.72% today to trade at Rs 525.7. The S&P BSE Metal index is up 1.14% to quote at 27486.61. The index is up 4.79 % over last one month. Among the other constituents of the index, Jindal Steel & Power Ltd increased 2.44% and JSW Steel Ltd added 1.72% on the day. The S&P BSE Metal index went up 34.74 % over last one year compared to the 20.45% surge in benchmark SENSEX.

Hindalco Industries Ltd has lost 6.25% over last one month compared to 4.79% gain in S&P BSE Metal index and 2.32% rise in the SENSEX. On the BSE, 1.73 lakh shares were traded in the counter so far compared with average daily volumes of 2.84 lakh shares in the past one month. The stock hit a record high of Rs 620.6 on 01 Jan 2024. The stock hit a 52-week low of Rs 381 on 20 Mar 2023.

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