Hindalco slips after twin bulk deals

A bulk deal of 10 lakh shares was struck on Hindalco Industries counter at Rs 108.25 at 11:26 IST on BSE today, 23 May 2013. Another bulk deal of 4 lakh shares was struck on the counter at Rs 107.45 at 11:33 IST on BSE today, 23 May 2013. The bulk deals constituted 0.07% equity of Hindalco Industries.

Meanwhile, the S&P BSE Sensex was down 306.02 points or 1.53% at 19,756.22.

On BSE, 19.33 lakh shares were traded in the counter as against average daily volume of 11.94 lakh shares in the past one quarter.

The stock hit a high of Rs 110.50 and a low of Rs 107 so far during the day. The stock had hit a 52-week low of Rs 86.90 on 26 March 2013. The stock had hit a 52-week high of Rs 137 on 2 January 2013.

The stock had outperformed the market over the past one month till 22 May 2013, rising 15.55% compared with the Sensex's 4.66% rise. The scrip, however, underperformed the market in past one quarter, rising 2.94% as against Sensex's 3.86% rise.

The large-cap company has equity capital of Rs 191.45 crore. Face value per share is Re 1.

Hindalco Industries' subsidiary Novelis on 14 May 2013 reported net income attributable to its common shareholder of $202 million for fiscal 2013. Excluding tax-effected certain items, net income for fiscal 2013 was $241 million, compared to a net income of $218 million for fiscal 2012. Net income for the fourth quarter of fiscal 2013, excluding tax-effected certain items, was $80 million, representing a $55 million increase when compared to the same period in the prior year. Novelis is the global leader in aluminum rolled products and the world's largest recycler of aluminum.

Net sales for fiscal 2013 were $9.8 billion, an 11% decrease compared to the $11.1 billion reported in the same period a year ago. This decline was due to lower average aluminum prices and lower shipments when compared to last year. For the fourth quarter, sales were $2.5 billion compared to $2.6 billion reported for the fourth quarter of fiscal 2012.

Hindalco Industries unveils FY13 results on 28 May 2013. The company's net profit declined 3.8% to Rs 433.52 crore on 3% growth in net sales to Rs 6789.90 crore in Q3 December 2012 over Q3 December 2011.

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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