Hindalco Industries rose 3.58% to Rs 151.70 at 10:26 IST on BSE after its overseas subsidiary Novelis reported strong earnings in Q3 December 2014 yesterday, 9 February 2015.
Meanwhile, the BSE Sensex was up 201.47 points, or 0.71%, to 28,428.86.
On BSE, so far 3.11 lakh shares were traded in the counter, compared with an average volume of 9.08 lakh shares in the past one quarter.
The stock hit a high of Rs 153.50 and a low of Rs 148 so far during the day. The stock hit a 52-week high of Rs 198.70 on 25 July 2014. The stock hit a 52-week low of Rs 96.95 on 24 February 2014.
The stock had underperformed the market over the past one month till 9 February 2015, falling 5.52% compared with 2.80% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 6.15% as against Sensex's 1.29% rise.
The large-cap company has an equity capital of Rs 206.50 crore. Face value per share is Re 1.
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Novelis Inc., the overseas subsidiary of Hindalco Industries, reported a 253.85% jump in net profit to $46 million in Q3 December 2014 over Q3 December 2013.
Its adjusted earnings before interest, tax, depreciation and amortisation (Ebitda, or operating profit) rose 16.26% to $236 million in Q3 December 2014 over Q3 December 2013. The increase was primarily driven by higher shipments as a result of strategic capacity expansions in Asia and South America, favorable product mix, and cost benefits from using recycled metal inputs.
Revenues climbed 18% to $2.8 billion in Q3 December 2014 over Q3 December 2013. Revenue growth was driven by a 5% increase in shipments of rolled aluminum products to 757 kilotonnes for the third quarter of fiscal 2015 compared to 721 kilotonnes in the prior year period. All four operating regions reported an increase in shipments year-over-year. Higher metal prices also contributed to the increase in revenue.
Novelis Inc. is the global leader in aluminum rolled products and the world's largest recycler of aluminum. The company operates in 11 countries. The company is part of the Aditya Birla Group, a multinational conglomerate based in Mumbai, India.
Hindalco Industries will declare Q3 results on 12 February 2015. The company's net profit fell 77.94% to Rs 78.77 crore on 33.30% increase in total income to Rs 8777.66 crore in Q2 September 2014 over Q2 September 2013.
Hindalco, a part of Aditya Birla Group, is the aluminium rolling company. It is one of the three biggest producers of primary aluminium in Asia with the largest single location copper smelter.
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