Hindalco rallies as Novelis hikes product prices
Novelis Inc. raised the price of all automotive aluminum sheet products sold in Europe by 160 euros ($205) a metric ton.
Hindalco Industries has rallied nearly 6% to Rs 104 on NSE after its overseas subsidiary Novelis Inc. raised the price of all automotive aluminum sheet products sold in Europe.
According to Bloomberg reports, Novelis Inc. raised the price of all automotive aluminum sheet products sold in Europe by 160 euros ($205) a metric ton, with immediate effect.
The change applies to all new orders not covered by current supply agreements, added report.
The stock opened at Rs 99.90 and has seen a combined 4.48 million shares changing hands on the counter till noon deals on NSE and BSE.
According to Bloomberg reports, Novelis Inc. raised the price of all automotive aluminum sheet products sold in Europe by 160 euros ($205) a metric ton, with immediate effect.
The change applies to all new orders not covered by current supply agreements, added report.
The stock opened at Rs 99.90 and has seen a combined 4.48 million shares changing hands on the counter till noon deals on NSE and BSE.