Hindalco surges on financial rejig

Hindalco surged by 5.66 per cent to close at Rs 47.60 on the aluminium maker's plan for financial restructuring to protect the operating margins from the adverse impact of huge costs incurred on account of acquisitions. The stock touched a high of Rs 28.05 and a low of Rs 25.10 in intraday trade. The firm is engaged in mining of bauxite and refining it into alumina. Its other operations are smelting of alumina into aluminum, making semi-fabricated rolled and extruded products.