Hindalco Industries rose 2.53% to Rs 160.35 at 9:17 IST on BSE after the company won the Gare Palma IV/4 coal block in Chhatisgarh for Rs 3,001 per tonne, according to the results of e-Auction for Schedule II coal mines on Friday, 20 February 2015.
Meanwhile, the S&P BSE Sensex was up 88.33 points or 0.3% at 29,319.74.
On BSE, so far 55,000 shares were traded in the counter as against average daily volume of 7.19 lakh shares in the past two weeks.
The stock hit a high of Rs 161.70 and a low of Rs 160.15 so far during the day.
The coal ministry has started auctioning coal blocks after the Supreme Court in September last year cancelled the allocation of more than 200 coal mines allotted between 1993 and 2010 after ruling that they were arbitrary and illegal.
Hindalco Industries' net profit rose 7.6% to Rs 359.36 crore on 17.9% rise in total income to Rs 8815.51 crore in Q3 December 2014 over Q3 December 2013.
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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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