Hindalco reverses intraday fall after declaring Q4 result

Hindalco Industries gained 3.36% to Rs 152.10 at 14:19 IST on BSE, with the stock reversing intraday fall in volatile trade after declaring Q4 result during market hours today, 29 May 2014.

Meanwhile, the S&P BSE Sensex was down 178.09 points or 0.73% at 24,378

On BSE, so far 18.92 lakh shares were traded in the counter, compared with an average volume of 10.90 lakh shares in the past one quarter.

The stock saw high intraday volatility. The stock hit a high of Rs 153 and a low of Rs 143.15 so far during the day. The stock hit a 52-week high of Rs 163.55 on 21 May 2014. The stock hit a 52-week low of Rs 83.05 on 7 August 2013.

The stock had underperformed the market over the past one month till 28 May 2014, rising 4.18% compared with 8.50% rise in the Sensex. The scrip, however, outperformed the market in past one quarter, rising 40.01% as against Sensex's 16.27% rise.

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

Hindalco Industries' net profit declined 48.51% to Rs 248.15 crore on 19.68% growth in total income to Rs 8647.53 crore in Q4 March 2014 over Q4 March 2013.

Hindalco Industries' net profit declined 16.82% to Rs 1413.33 crore on 7.15% growth in total income to Rs 28975.35 crore in the year ended 31 March 2014 over the year ended 31 March 2013.

On a consolidated basis, Hindalco Industries' net profit declined 28.14% to Rs 2175.01 crore on 9.24% growth in total income to Rs 88712.69 crore in the year ended 31 March 2014 over the year ended 31 March 2013.

Hindalco Industries US subsidiary Novelis reported its Q4 results on 16 May 2014. Novelis, the world leader in aluminum rolling and recycling, said net profit declined 8.47% to $54 million on 1.96% increase in net sales to $2549 million in Q4 March 2014 over Q4 March 2013. Net profit declined 48.51% to $104 million on 0.46% decline in net sales to $9767 million in the year ended March 2014 over the year ended March 2013.

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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