Hindalco has advanced over 1% at Rs 123.50 after the news that the company has acquired Alumina Refinery and Bauxite Mines from Novelis Do Brasil Ltd, a wholly subsidiary of Novalis Inc.
The agreement has been executed between Novelis Do Brasil Ltd, Novelis Inc., and A V Minerals (Netherlands) B.V., a wholly-owned subsidiary of Hindalco Industries Ltd, the company said in a filing to the Bombay Stock Exchange.
The Alumina refinery with a capacity of 145 KTPA, situated in the city of Ouro Preto, State of Minas Gerias, Brazil, has mining rights of over 50 million tonnes of Bauxite reserves.
In the intraday deal, the stock opened at Rs 123 and made a high of Rs 124.85. Around 3.5 lakh shares were traded in BSE
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