Hindalco Industries is currently trading at Rs. 179.30, up by 3.50 points or 1.99% from its previous closing of Rs. 175.80 on the BSE.
The scrip opened at Rs. 177.10 and has touched a high and low of Rs. 179.60 and Rs. 176.60 respectively. So far 122837 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 221.20 on 02-Jan-2020 and a 52 week low of Rs. 85.05 on 23-Mar-2020.
Last one week high and low of the scrip stood at Rs. 184.45 and Rs. 174.70 respectively. The current market cap of the company is Rs. 39490.88 crore.
The promoters holding in the company stood at 34.65%, while Institutions and Non-Institutions held 45.80% and 13.54% respectively.
Hindalco Industries has entered into a memorandum of understanding (MoU) with Hindustan Copper (HCL) for the long-term purchase and sale of copper concentrate produced by the PSU. Under this MoU, around 60 percent copper content of HCL’s current copper concentrate production will be utilised by Hindalco in the manufacture of refined copper. Hindalco’s copper is used by key industries, such as power, electronics, railways and construction.
This is a unique public-private partnership (PPP) that aligns with the government’s clarion call for Aatmanirbhar Bharat Abhiyan. This partnership is a major step towards import substitution and reducing the nation’s dependence on imported copper concentrate. This agreement is a major step forward towards Aatmanirbhar Bharat as it will help in utilising locally mined copper concentrate for domestic production of refined copper and it reduces the nation’s dependence on import of a critical metal.
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.