Hindalco loses its sheen
By
Research Desk
about 10 years ago
Hindalco is down in the red today, currently at Rs.110.80, down almost 2%, and its current intra day low point.
The stock has lost its sheen today after Alcoa, its global peer announced a huge quarterly loss yesterday and also gave out a stagnant outlook for the global aluminium demand. It expects demand at 7% which is what it acheived in 2013. This is like a cue for Hindalco about what lies ahead for Hindalco’s subsidiary, Novelis Inc and does not bode too well.