13 APRIL 2015profit.ndtv.com
Hindalco falls as aluminum giant Alcoa misses estimates
Edited by : AL CIRCLE
1 min read
Shares of Hindalco Industries slipped nearly 2 per cent to hit intraday low of INR 137.35 after global aluminum giant Alcoa Inc's first quarter earnings missed expectations.
Alcoa's earnings missed estimates. However, the commentary for auto continues to remain positive as it expects global aluminum demand growth to be 6.5 per cent.
The impact of Alcoa's earnings highlights revenue visibility for Hindalco's Novelis unit.
Reacting to the news, shares of Hindalco came under selling pressure. At 10:30 a.m., the stock was down 1.4 per cent at INR 138 underperforming the Nifty which was down 0.15 per cent.
Alcoa's earnings missed estimates. However, the commentary for auto continues to remain positive as it expects global aluminum demand growth to be 6.5 per cent.
The impact of Alcoa's earnings highlights revenue visibility for Hindalco's Novelis unit.
Reacting to the news, shares of Hindalco came under selling pressure. At 10:30 a.m., the stock was down 1.4 per cent at INR 138 underperforming the Nifty which was down 0.15 per cent.
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