Hindalco Inds shines bright
By
Research Desk
about 11 years ago
Hindalco Industries is up in the green, currently trading over 3.3% at Rs.102. Its 52-week high is at Rs.137. Volumes are at just over 1.5 lakh shares today morning compared to around 6.5 lakh shares over past two weeks average.
The stock is up after it European subsidiary, Novellis, hiked prices of all automotive aluminium sheet products in Europe. The price hike is stated to be in the range of 150 Euros per ton and with immediate effect, on all new orders not covered by current supply agreements. The price hike is following strong demand and that, marketmen feel, augurs well for the company.