Hindalco Industries drops after 4-day 11.5% rally

Hindalco Industries lost 1.65% to Rs 121.95 at 11:56 IST on BSE, with the stock sliding on profit booking after a recent rally.

Meanwhile, the S&P BSE Sensex was down 104.75 points or 0.5% at 20,786.07.

On BSE, 4.13 lakh shares were traded in the counter as against average daily volume of 11.90 lakh shares in the past two weeks.

The stock hit a high of Rs 125 and a low of Rs 121.70 so far during the day.

Shares of Hindalco Industries had rallied 11.51% in four trading sessions to settle at Rs 124 on Tuesday, 19 November 2013, from a recent low of Rs 111.20 on 12 November 2013.

Hindalco Industries' net profit declined 0.5% to Rs 357.11 crore on 2.1% growth in net sales to Rs 6245.56 crore in Q2 September 2013 over Q2 September 2012.

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 the world's largest custom smelter at a single location.

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