Business Standard

Hindalco dips as state pollution board orders closure of Hirakud plant

The stock underperformed the market by falling over 8% in past four trading session as compared to 1% rise in benchmark Sensex

Related News

Hindalco is trading lower by 3% at Rs 111 on reports that the Odisha State Pollution Control Board (OPSCB) has asked the company to shut down the captive power plant (CCP) of smelter plant near in western Odisha in the wake of a breach in the company's ash pond that damaged standing crops in the locality.

“The company, which has a brownfield aluminum smelter facility having capacity 1.46 lakh ton per annum and CPP of capacity 367.5 MW, generates about 3000 ton of ash per day from its CPP,” the report suggests.

The stock is currently trading at its three-month low and has underperformed the market by falling over 8% in past four trading session on reporting 34% year-on-year drop in net profit for the quarter ended June 2012. The benchmark Sensex has gained around 1% during the same period.

Read more on:   
|
|

Hindalco dips as state pollution board orders closure of Hirakud plant

The stock underperformed the market by falling over 8% in past four trading session as compared to 1% rise in benchmark Sensex

Hindalco is trading lower by 3% at Rs 111 on reports that the Odisha State Pollution Control Board (OPSCB) has asked the company to shut down the captive power plant (CCP) of smelter plant near Hirakud in western Odisha in the wake of a breach in the company's ash pond that damaged standing crops in the locality.

Hindalco is trading lower by 3% at Rs 111 on reports that the Odisha State Pollution Control Board (OPSCB) has asked the company to shut down the captive power plant (CCP) of smelter plant near Hirakud in western Odisha in the wake of a breach in the company\'s ash pond that damaged standing crops in the locality.

“The company, which has a brownfield aluminum smelter facility having capacity 1.46 lakh ton per annum and CPP of capacity 367.5 MW, generates about 3000 ton of ash per day from its CPP,” the report suggests.

The stock is currently trading at its three-month low and has underperformed the market by falling over 8% in past four trading session on reporting 34% year-on-year drop in net profit for the quarter ended June 2012. The benchmark Sensex has gained around 1% during the same period.

image

Read More

Sebi imposes fine on three persons for lack of disclosure

Pursuant to this purchase, their total holding rose to 11.2% in the company, crossing a threshold limit of 10% to attract the provisions of Sebi's ...

Recommended for you

Advertisements

Quick Links

Market News

Ministry of agriculture starts study on onion futures

Study to be oriented towards farmers, their concerns and as to how they are going to be benefitted futures market

MF exposure to FMCG stocks at 9 month high

MFs hold nearly Rs 18,300 crore worth of FMCG stocks, up from Rs 11,800 crore in June of last year

Markets end flat amid volatility; Infosys up 3%

The 30-share Sensex ended up 1 point at 27,459 and the 50-share Nifty ended down 1 point at 8,341.

Markets snap seven day losing streak

ICICI Bank, HDFC Bank and SBI were among the top gainers along with Infosys and L&T

Reliance Communications hits 52-week low

The stock hit a 52-week low of Rs 56.75 on the National Stock Exchange in intra-day trade.

 

Back to Top