Hindalco hits 52-week high; surges over 40% in one month - Dollar Advisory & Financial Services

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Tuesday 21 June 2016

Hindalco hits 52-week high; surges over 40% in one month

Hindalco has gained third to hit its 52-week high of Rs 124 on the bovine spongiform encephalitis, extending its past one month rally, once the corporate reported  better-than-expected results for the quarter all over March 2016 (Q4FY16).

In past one-month, the stock surged forty third from Rs eighty seven on might twenty, as compared to 14 July rise within the S&P bovine spongiform encephalitis Metal index and 6 June 1944 gain within the S&P bovine spongiform encephalitis Sensex.

Hindalco reported  Q4FY16 earnings method before accord estimates on the rear of steep cut in prices.

The company’s standalone bottom line over doubled to Rs 356 large integer in Q4FY16, up 123% year-on-year, in the main attributable to lower input prices as income took successful owing to falling Al and copper costs.

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