Shares Of Hindalco Industries Added 7 Percent In The Opening Trade On Friday

Shares of Hindalco Industries added 7 percent in the opening trade on Friday as company's subsidiary is going to acquire a US company for USD 2.6 billion.

The company's wholly owned subsidiary, Novelis Inc, sign a definitive agreement to purchase Aleris Corporation, a global aluminium rolled products major, headquartered in the United States, for USD 2.58 billion in a debt finance deal.

The said acquisition is subject to customary closing conditions and regulatory approvals.

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