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:   
|
|

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 ...

Quick Links

 

Market News

More demand for cheaper diamond jewellery exports

Buyers pick up low priced ornaments this year compared to high priced ones earlier, producers rely on hopes

Weekly: Markets retain winning streak on Fed outcome

Dr Reddy's , Hero MotoCorp, TCS and Maruti among the top gainers

Di Bella Coffee brews second stint in India

Last year, Di Bella had terminated licence agreement with JV company Di Bella India

Markets retain winning streak on Fed outcome

Scotland's decision to stay in the United Kingdom helped the investor sentiment

Alibaba surges on massive demand in trading debut

Alibaba is nearly unknown to most Americans but is ubiquitous in China, where it is responsible for 80 percent of online sales

Back to Top