Hindalco Industries fell 1.42% to Rs 111.20 at 12:26 IST on BSE after Alcoa Inc, the largest US aluminium producer, reported a loss in fourth quarter earnings on Thursday, 9 January 2014.
Meanwhile, the BSE Sensex was up 148.17 points, or 0.72%, to 20,861.54.
On BSE, so far 3.71 lakh shares were traded in the counter, compared with an average volume of 9.91 lakh shares in the past one quarter.
The stock hit a high of Rs 113 and a low of Rs 110.55 so far during the day. The stock hit a 52-week high of Rs 134 on 10 January 2013. The stock hit a 52-week low of Rs 83.05 on 7 August 2013.
The stock had underperformed the market over the past one month till 9 January 2014, sliding 8.96% compared with the Sensex's 2.87% fall. The scrip had also underperformed the market in past one quarter, falling 5.73% as against Sensex's 2.29% rise.
The large-cap company has an equity capital of Rs 206.46 crore. Face value per share is Re 1.
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Alcoa, the Pittsburgh-based aluminum giant, reported a net loss of $2.3 billion, or $2.19 a share, on revenue of $5.59 billion in the fourth quarter compared with $242 million, 21 cents a share on revenue of $5.9 billion in the same quarter a year earlier.
Excluding one-time restructuring, write-downs and tax items, Alcoa would have reported earnings of 4 cents a share.
Alcoa attributed the loss mostly to writing down the value of aluminum-smelting operations. The company is struggling with a worldwide glut of aluminum that is creating stubbornly weak prices -- in the quarter, the company received an average price that was 7% lower than it got a year earlier.
Hindalco Industries' net profit declined 0.5% to Rs 357.11 crore on 2.1% growth in net sales to Rs 6245.56 crore in Q2 September 2013 over Q2 September 2012.
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 the world's largest custom smelter at a single location.
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