Hindalco Industries recovers on bargain hunting

Hindalco Industries rose 1.46% to Rs 118.35 at 11:55 IST on BSE, with the stock recovering on bargain hunting after recent slide.

Meanwhile, the S&P BSE Sensex was up 97.80 points or 0.47% at 20,757.32.

On BSE, so far 2.66 lakh shares were traded in the counter as average daily volume of 10.93 lakh shares in the past one quarter.

The stock hit a high of Rs 118.90 and a low of Rs 116.90 so far during the day. The stock had hit a 52-week high of Rs 137 on 2 January 2013. The stock had hit a 52-week low of Rs 83.05 on 7 August 2013.

The stock had outperformed the market over the past one month till 16 December 2013, advancing 1.35% compared with the Sensex's 1.28% rise. The scrip had, however, underperformed the market in past one quarter, gaining 3.18% as against Sensex's 4.65% rise.

The large-cap company has equity capital of Rs 206.46 crore. Face value per share is Re 1.

Shares of Hindalco Industries had declined 6.71% in four trading sessions to settle at Rs 116.65 on Monday, 16 December 2013 from a recent high of Rs 125.05 on 10 December 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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