Shares of aluminium maker Hindalco today ended with a sharp gain of 12 per cent after its stand-alone net profit more than doubled to Rs 356 crore for the fourth quarter ended March.
Buoyed by the encouraging numbers, the stock zoomed 12.03 per cent to settle at Rs 102.90 on BSE. During the day, it rallied 12.68 per cent to Rs 103.50.
At NSE, shares of the company soared 12 per cent to close at Rs 102.95. The stock was the biggest gainer among the 50- Nifty components.
Led by the sharp rally in the stock, the company's market valuation moved up by Rs 2,282.7 crore to Rs 21,248.70 crore.
On the volume front, 51.45 lakh shares changed hands at BSE and over 4 crore shares were traded at NSE during the day.
Hindalco on Saturday said its standalone net profit more than doubled to Rs 356 crore for the January-March quarter helped by growth in sales of value-added products as well as cost efficiencies.
