Hindalco extended losses and touched a low of Rs 80.25 - down 7% from the previous close. It recovered partially and ended with a loss of 3.5% at Rs 83.40. The counter witnessed trades of 2.68 million shares on the BSE today
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Updated at 1111hrs:
Hindalco shed nearly 5% in opening trades this morning following 80% drop in FY09 bottomline.
The stock opened at Rs 85, but soon touched a low of Rs 82 in opening trades. The stock is now down 2.7% at Rs 84 and the counter has seen trades of around 434,000 shares on the BSE so far.
The company reported a consolidated net profit for Rs 485 crore for the year ended March 31, 2009, as against Rs 2,193 crore last fiscal. The revenue grew 9% to Rs 65,625 crore.