13 JULY 2016The Economic Times
Nalco, Hindalco soar on aluminium giant Alcoa's earnings beat
Edited by : AL CIRCLE
1 min read
Shares of Hindalco and Nalco surged in Tuesday's (July 12) trade after the world's third-largest aluminium producer reported a beat in its Q2 earnings.
Alcoa's earnings per share (EPS) grew 66 per cent for the quarter, its second quarterly earnings beat for the year. The aluminium giant has guided for a 6 per cent growth in September quarter.
A good earnings show historically reflects well on domestic aluminium giants such as Hindalco and Nalco much like Cognizant does for Indian IT firms.
Reacting to the development, Nalco zoomed 13.33 per cent to INR 50.15. Hindalco climbed 4.81 per cent to INR 135.30. The BSE metal index rose 2.87 per cent to 9,116.51.
Alcoa's earnings per share (EPS) grew 66 per cent for the quarter, its second quarterly earnings beat for the year. The aluminium giant has guided for a 6 per cent growth in September quarter.
A good earnings show historically reflects well on domestic aluminium giants such as Hindalco and Nalco much like Cognizant does for Indian IT firms.
Reacting to the development, Nalco zoomed 13.33 per cent to INR 50.15. Hindalco climbed 4.81 per cent to INR 135.30. The BSE metal index rose 2.87 per cent to 9,116.51.
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