Hindalco hikes prices of its aluminium products sixth time in a row
Hindalco Industries Ltd has hiked the prices of its aluminium products for the sixth time in a row, which has taken its prices to their highest level since late March, trade sources told Cogencis.
The company has hiked product prices by more than 1% with effect from Saturday, and the products now cost between 148,250-158,850 rupees per tn.
Hindalco generally links the prices of its products with the those of the metal in international markets. The three-month futures of aluminium are up nearly 4% so far in the current quarter. Prices of aluminium had fallen in August and September.
Hindalco's aluminium operations, excluding those of US-based subsidiary Novelis Inc, generally account for nearly half of its sales, and 70% of its operating profit.
At 1524 IST, shares of Hindalco Industries were down more than 3% at 193.40 rupees on the National Stock Exchange.
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