/ Hindalco Industries Stock Pares Thursday’s Gains ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Friday, 12 May 2017

Hindalco Industries Limited stock has pared Thursday’s gains in the morning hours on Friday. The stock is trading marginally lower by 0.1% at Rs 193.45 per share on NSE as of 1043 hours.

The stock has attracted the traded volume of 28,94,032 shares and traded value of Rs 55.86 Cr. However, the stock price is trading above its volume weighted average price of Rs 193.04 per share.

Though the share price of Hindalco Industries Limited had jumped by around 4% on Thursday, the percentage deliverable quantity to traded quantity stood at 32.39, which may show that most of the traders enjoyed the upward rally of the stock on the intraday basis.

Novelis Inc, an overseas subsidiary of Hindalco Industries, announced 46% jump in net income at USD 73 million in Q4 March 2017. Net sales increased 9% to USD 2.6 billion for the fourth quarter of fiscal 2017, driven by higher average aluminium prices and increased shipments of higher conversion premium products, including a 26% increase in automotive shipments.

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