Hindalco Industries rose 1.43% to Rs 274 at 9:34 IST on BSE after the company's overseas arm Novelis reported strong Q2 September 2017 results yesterday, 2 November 2017.
Meanwhile, the S&P BSE Sensex was up 71.95 points, or 0.21% to 33,645.17.On the BSE, 1.59 lakh shares were traded in the counter so far, compared with average daily volumes of 7.09 lakh shares in the past one quarter. The stock had hit a high of Rs 277.70 and a low of Rs 272.30 so far during the day. The stock hit a record high of Rs 278.50 on 23 October 2017. The stock hit a 52-week low of Rs 148.05 on 27 December 2016.
The stock had outperformed the market over the past one month till 2 November 2017, rising 11.86% compared with 6% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 20.04% as against Sensex's 3.86% rise. The scrip had also outperformed the market in past one year, rising 66.35% as against Sensex's 22.39% rise.
The large-cap company has equity capital of Rs 224.43 crore. Face value per share is Re 1.
On a consolidated basis, Novelis reported net income of $307 million in Q2 September 2017, compared to a net loss of $89 million in Q2 September 2016. Net sales increased 18% to $2.8 billion in Q2 September 2017 over Q2 September 2016, driven by higher average aluminum prices and higher total shipments.
Novelis Inc. is the global leader in aluminum rolled products and the world's largest recycler of aluminum. The company operates in 10 countries, has approximately 11,000 employees and had $10 billion in revenue for its 2017 fiscal year. Novelis supplies premium aluminum sheet and foil products to transportation, packaging, construction, industrial and consumer electronics markets throughout North America, Europe, Asia and South America. Novelis is a subsidiary of Hindalco Industries.
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Hindalco Industries will announce Q2 September 2017 results later today, 3 November 2017. The company's net profit declined 1.55% to Rs 289.51 crore on 28.81% rise in net sales to Rs 9770.04 crore in Q1 June 2017 over Q1 June 2016.
Hindalco Industries, metals flagship company of the Aditya Birla Group, is the industry leader in aluminium and copper.
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