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Hindalco Industries recovers after 4-day 9.9% slide

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Capital Market

Meanwhile, the S&P BSE Sensex was down 238.68 points or 1.25% at 18,802.45.

On BSE, 4.41 lakh shares were traded in the counter as against average daily volume of 11.04 lakh shares in the past one quarter.

The stock hit a high of Rs 96.30 and a low of Rs 91.25 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 86.90 on 26 March 2013.

The stock underperformed the market over the past one month till 12 June 2013, sliding 12.99% compared with the Sensex's 5.37% fall. The scrip had also underperformed the market in past one quarter, falling 7.14% as against Sensex's 2.68% decline.

 

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

Shares of Hindalco Industries had declined 9.98% in four trading sessions to settle at Rs 92.40 on Wednesday, 12 June 2013, from a recent high of Rs 102.65 on 6 June 2013, hit by weak Chinese economic data. China is the world's largest consumer of copper and aluminum

China's trade, inflation and lending data for May announced on 8 June 2013 trailed estimates, signaling weaker global and domestic demand. Industrial production rose a less-than-forecast 9.2% in May 2013. May exports rose 1% from a year earlier, down from 14.7% in April, while imports dropped 0.3% from a year earlier.

Hindalco Industries' net profit fell 24.7% to Rs 482.03 crore on 8.6% decline in net sales to Rs 6915.59 crore in Q4 March 2013 over Q4 March 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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First Published: Jun 13 2013 | 11:42 AM IST

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