Hindalco Inds surges after better-than-expected Q2 results from Alcoa

Hindalco Industries rose 4.92% to Rs 135.40 at 11:26 IST on BSE after Alcoa Inc, the largest US aluminum producer, after market hours in US yesterday, 11 July 2016, reported better-than-expected Q2 June 2016 results.

Meanwhile, the S&P BSE Sensex was up 74.49 points or 0.27% at 27,701.18.

On BSE, so far 13.15 lakh shares were traded in the counter as against average daily volume of 13.63 lakh shares in the past one quarter. The stock hit a high of Rs 136.15 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 130 so far during the day. The stock had hit a 52-week low of Rs 58.85 on 12 February 2016. The stock had outperformed the market over the past one month till 11 July 2016, surging 12.02% compared with Sensex's 3.72% rise. The scrip had also outperformed the market in past one quarter, advancing 39.74% as against Sensex's 10.41% rise.

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

Alcoa's consolidated net profit fell 3.57% to $135 million on 10% decline in revenue to $5.3 billion in Q2 June 2016 over Q2 June 2015. Alcoa attributed the decline in top line during the quarter to lower aluminum and alumina pricing and the impact of curtailed, divested and closed operations.

Hindalco Industries' US subsidiary Novelis is in the similar line of business as Alcoa.

Hindalco Industries' net profit rose 123.4% to Rs 356.33 crore on 7.3% decline in net sales to Rs 8542.66 crore in Q4 March 2016 over Q4 March 2015.

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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