With Nirmala Sitharaman announcing the Union Budget for FY 2019-20, share price of Hindalco Industries fell by 3.04 percent to open at 206.55. The price closed at 200.60.
The BSE group ‘A’ stock of face value Re 1 has touched a 52-week high of Rs 259.70 on 4 October 2018 and a 52-week low of Rs 182.55 on 15 February 2019.
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The stock has lost nearly 8% in the last one year compared with a 12% rise in the benchmark Nifty 50 index. The promoters holding in the company stood at 34.66%, while Institutions and Non-Institutions held 45.93% and 13.14%, respectively.
Hindalco Industries is an industry leader in aluminium and copper. The company’s aluminium units across the country encompass the entire gamut of operations from bauxite mining, alumina refining, aluminium smelting to downstream rolling, extrusions, foils and alloy wheels, along with captive power plants and coal mines.
For 2018-19, Hindalco posted a fall of 16% in its net profit to Rs 1,205.43 crore as compared to Rs 1,436.49 crore for the previous year. However, total income increased 5.17% at Rs 46,689.19 crore in FY19 compared to Rs 44,393.86 crore in FY18.
On the consolidated basis, Hindalco posted a fall of 9.66% in its net profit at Rs 5,495.01 crore in FY19 compared with Rs 6,082.87 crore in FY18. However, total income of company increased by 12.61% at Rs 131,669.36 crore for year under review as compared to Rs 116,924.27 crore for FY18.
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