Hindalco extends post-result gains

Hindalco Industries advanced 3.55% to Rs 106.55 at 12:10 IST on BSE, with the stock extending yesterday's gains triggered by the company's strong Q4 result.

Meanwhile, the BSE Sensex was down 60.32 points, or 0.23%, to 26,665.82

On BSE, so far 20.03 lakh shares were traded in the counter, compared with an average volume of 14.80 lakh shares in the past one quarter. The stock hit a high of Rs 107 and a low of Rs 102.50 so far during the day. The stock hit a 52-week high of Rs 133.90 on 28 May 2015. The stock hit a 52-week low of Rs 58.85 on 12 February 2016.

The large-cap company has an equity capital of Rs 206.50 crore. Face value per share is Re 1.

Shares of Hindalco Industries gained 12.03% to settle at Rs 102.90 yesterday, 30 May 2016 after the company's net profit jumped 123.36% to Rs 356.33 crore on 7.6% fall in total income to Rs 8871.66 crore in Q4 March 2016 over Q4 March 2015. The result was announced on Saturday, 28 May 2016.

Hindalco Industries' revenue from operations dropped 7.51% to Rs 8667.52 crore in Q4 March 2016 over Q4 March 2015. The company attributed the decline in revenue to a sharp decline in both aluminium and copper realizations. In aluminium, the impact was much severe due to a sharp fall in local market premium and a sharp surge in imports of aluminium in the country. The company said its operational performance was strong. A strong increase in aluminium volumes, a thrust on value addition across businesses, lower cost of raw materials and a weaker rupee helped the company partially offset the impact of a sharp fall in realizations. The bottom line was boosted by base effect. The company's bottom line in Q4 March 2015 was adversely impacted by a non-recurring expenditure of Rs 146.48 crore.

A part of the Aditya Birla Group, Hindalco Industries is the world's largest aluminium rolling company and one of the biggest producers of primary aluminium in Asia. Its copper smelter is amongst the largest single location custom smelter globally.

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