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HINDALCO - Hindalco Industries News Story

₹468.8 -11.1  -2.3%

Last Trade - 11:29am

Sector
Basic Materials
Size
Large Cap
Market Cap £10.42bn
Enterprise Value £15.00bn
Revenue £14.35bn
Position in Universe 49th / 3166

BUZZ-India's Hindalco Industries climbs as unit completes Aleris deal

Wed 15th April, 2020 6:17am
** Shares of Hindalco Industries  HALC.NS  jump ~9% to 124
rupees in their biggest intraday jump since March 16
    ** The aluminum and copper producer on Tuesday said its unit
completed the acquisition of Aleris Corp, a U.S.-based aluminum
products maker that supplies parts to aircraft makers such as
Boeing  BA.N , Airbus  AIR.PA  and Bombardier  BBDb.TO  
    ** Novelis, Hindalco's beverage can recycling unit will
acquire Aleris' 13 plants across North America, Europe and Asia
as part of the deal
    ** Hindalco stock on track for its third straight session of
gains
    ** Around 17.6 mln shares change hands, as of 0440 GMT,
compared with the 30-day average of about 13.9 mln shares
    ** Eighteen of the 20 analysts covering the stock have a
"buy" or "strong buy" rating, one has "hold", while one rates it
at "sell"; median PT is 204.50 rupees - Refinitiv data
    ** Stock down over 47% this year, up to last close



 (Reporting by Chandini Monnappa in Bengaluru)
 ((Chandini.M@thomsonreuters.com; 910867497919;))
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