BSE Sensex was down 230.94 points, or 0.72% to 32,042.73.
On the BSE, 10.72 lakh shares were traded in the counter so far, compared with average daily volumes of 11.57 lakh shares in the past one quarter. The stock had hit a high of Rs 244.80 so far during the day, which is also a 52-week high for the counter. The stock had hit a low of Rs 232.10 so far during the day. The stock hit a 52-week low of Rs 138.60 on 11 August 2016.
The stock had outperformed the market over the past one month till 7 August 2017, rising 16.80% compared with 2.91% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 22.16% as against Sensex's 7.82% rise. The scrip had also outperformed the market in past one year, rising 52.68% as against Sensex's 14.52% rise.
The large-cap company has equity capital of Rs 224.35 crore. Face value per share is Re 1.
On a consolidated basis, Novelis' net income surged 320.83% to $101 million on 16.25% increase in net sales to $2669 million in Q1 June 2017 over Q1 June 2016.
The year-over-year increase in net income was driven primarily by higher EBITDA (earnings before interest, taxes, depreciation and amortization) and lower interest expense following debt refinancing actions in fiscal 2017.
The increase in net sales was driven by a 4% increase in total shipments of flat rolled products to 785 kilotonnes, including a 16% increase in shipments of higher conversion premium automotive products, as well as higher average aluminum prices.
Novelis, a subsidiary of Hindalco Industries, is the global leader in aluminum rolled products and the world's largest recycler of aluminum.
Hindalco Industries' net profit rose 25.6% to Rs 502.52 crore on 27.4% rise in net sales to Rs 11026.09 crore in Q4 March 2017 over Q4 March 2016.
Hindalco Industries, metals flagship company of the Aditya Birla Group, is the industry leader in aluminium and copper.
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