Hindalco Industries was up 4.55% to Rs 150.35 at 11:34 IST on BSE after the company's US subsidiary Novelis reported strong Q1 June 2016 earnings on Friday, 5 August 2016.
Meanwhile, the S&P BSE Sensex was up 99.70 points or 0.36% at 28,178.05.
On BSE, so far 10.92 lakh shares were traded in the counter as against average daily volume of 14.12 lakh shares in the past one quarter. The stock hit a high of Rs 151.90 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 145.70 so far during the day. The stock had hit a 52-week low of Rs 58.85 on 12 February 2016. The stock had outperformed the market over the past one month till 5 August 2016, advancing 16.34% compared with 3.36% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 58.9% as against Sensex's 11.15% rise.
The large-cap company has equity capital of Rs 206.50 crore. Face value per share is Rs 1.
Novelis' adjusted net profit rose 37.5% to $33 million in Q1 June 2016 over Q1 June 2015. Net sales declined 13% to $2.3 billion in Q1 June 2016 over Q1 June 2015, due to lower average aluminum prices and local market premiums, as well as lower total shipments, which was partially offset by increased shipments of higher conversion premium products.
Novelis' adjusted earnings before interest, taxation, depreciation and amortization (EBITDA) rose 26% to $268 million in Q1 June 2016 over Q1 June 2015, driven by higher productivity and lower costs associated with the start-up of new automotive finishing and recycling capacity in the prior year.
Hindalco is scheduled to announce Q1 June 2016 results on Friday, 12 August 2016. Net profit jumped 123.4% to Rs 356.33 crore on 7.3% decline in net sales to Rs 8542.66 crore in Q4 March 2016 over Q4 March 2015.
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A part of the Aditya Birla Group, 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 amongst the largest single location custom smelter globally.
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