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Hindalco to go for financial restructuring, EGM on April 2

17 Mar 2009 Evaluate

Aluminium major Hindalco Industries will go for financial restructuring of its businesses so that huge costs incurred on acquisitions do not impact the company's operating results. The company has called for an Extraordinary General Meeting on April 2 to seek shareholders' approval for the same. The present global economic scenario especially in the commodity space had an adverse impact on its domestic and overseas operations which may result in impairment in value of its assets/investments. To prevent its operational results from being impacted by such losses the firm would go for restructuring which may result in reduction of its capital through a Scheme of Arrangement to be overseen by the Bombay High Court.

This scheme will result in non-operational costs being charged against a reserve created for the purpose out of the securities premium balance of the company and which would be classified as Business

Reconstruction Reserve Account.crackcrack

Hindalco Share Price

1054.65 12.05 (1.16%)
05-May-2026 16:59 View Price Chart
Peers
Company Name CMP
Hindalco 1054.65
Vedanta 303.90
Hindustan Zinc 611.00
Jain Resource Recycl 459.35
Gravita India 1722.15
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