Hindalco Industries was up 1.5% at Rs 121.90 at 12:43 IST on BSE after India's biggest domestic institutional investor, LIC, announced that it made further purchases of Hindalco shares from the open market during the past two months.
Meanwhile, the BSE Sensex was currently up 118.28 points or 0.44% at 27,234.11.
Shares of Hindalco hit high of Rs 123.40 and low of Rs 121.10 so far during the trading session. The stock hit 52-week high of Rs 198.70 on 25 July 2014. The stock hit 52-week low of Rs 113.60 on 16 June 2015.
On BSE, so far 3.2 lakh shares were traded in the counter, compared with an average volume of 5.64 lakh shares in the past one quarter.
LIC in a disclosure to the National Stock Exchange said after market hours yesterday, 18 June 2015, that it had hiked its stake in Hindalco Industries to 13.337% from 11.328% during the period from 16 April 2015 to 17 June 2015 through open market purchases.
Hindaco's net profit fell 35.7% to Rs 159.53 crore on 10.3% increase in net sales to Rs 9219.25 crore in Q4 March 2015 over Q4 March 2014.
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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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