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Hindalco gains with subsidiaries' plan of building first manufacturing plant in China

13 Apr 2012 Evaluate

Hindalco Industries is currently trading at Rs 128.20, up by 0.25 points or 0.20% from its previous closing of Rs 127.95 on the BSE.

The scrip opened at Rs 129.80 and has touched a high and low of Rs 129.80 and Rs 125.45respectively. So far 502985 shares were traded on the counter.

The BSE group 'A' stock of face value Re 1 has touched a 52 week high of Rs 224.60 on 27-Apr-2011 and a 52 week low of Rs 111.25 on 02-Jan-2012.

Last one week high and low of the scrip stood at Rs 132.00 and Rs 122.50 respectively. The current market cap of the company is Rs 24659.30 crore.

The promoters holding in the company stood at 32.06% while Institutions and Non-Institutions held 42.09% and 17.54% respectively.

Hindalco Industries’ subsidiary -Novelis Inc., the world’s leading producer of premium aluminium rolled products, has signed an agreement with the Changzhou National Hi-Tech district to build the company’s first automotive sheet manufacturing facility in China. The agreement, which includes land use rights to more than 160 acres, was signed at a formal ceremony in Changzhou city in the Jiangsu province of China.

Novelis is the world’s leading producer of rolled aluminium for the global automotive market and the leading provider of aluminium sheet to the rapidly expanding Chinese automobile industry. The wholly-owned $100 million plant will have a capacity of 120,000 metric tonnes per year and is expected to be commissioned in late 2014.

Located in the heart of the Changzhou National Hi-Tech district, the new site is close to vital rail lines, the Changzhou deep water port on the Yangtze River and other world-class businesses and commercial infrastructure. The company plans to ship rolled aluminium coils manufactured at its South Korean operations to the new facility in Changzhou for heat treatment and finishing before delivery to automotive customers within China as well as to export markets.

Novelis is a subsidiary of Hindalco Industries, one of Asia's largest integrated producers of aluminium and a leading copper producer.

Hindalco Share Price

1038.95 -0.70 (-0.07%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Hindalco 1038.95
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