At 2 pm, the shares of Hindalco Industries were trading at Rs 463.40, up by 2.93% from its previous closing of Rs 450.20 on the BSE.
Hindalco Industries has planned a total investment of Rs 4,000 crore in an extrusion facility for freight wagons and coaches and a copper and e-waste recycling plant. The company has planned a Rs 2,000 crore investment to set up a new extrusion facility for the development of freight wagons, and coaches of prestigious Vande Bharat trains. The company will also make an investment of Rs 2,000 crore to establish a copper and e-waste recycling facility in India.
Hindalco Industries has already commercialized the country’s first all-aluminium lightweight rake which enables higher speed with more payload. The company plans to introduce three more designs of freight wagons in the coming months targeting specific end-use applications, including bagged cement, and food grains.
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, and aluminium smelting to downstream rolling, extrusions, foils and alloy wheels, along with captive power plants and coal mines.
On Wednesday, the stock opened at Rs 455 and touched a high and low of Rs 465.30 and Rs 453.05 respectively.
The BSE group ‘A’ stock of face value of Rs 1 has touched a 52-week high and low of Rs 504 and Rs 358.80, respectively. Last one week high and low of the scrip stood at Rs 465.30 and Rs 438.35 respectively. The current market cap of the company is Rs 103495.56 crore.
The promoters holding in the company stood at 34.64%, while Institutions and Non-Institutions held 52.55% and 9.13% respectively.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet, and is subject to changes. Please consult an expert before making related decisions.