Hindalco's aluminium upstream and downstream businesses experienced 7% and 11% declines in revenue, respectively, while its copper segment reported a 9% growth.
Hindalco Q3 results: The poor earnings saw Hindalco Industries Ltd s stock briefly slip into the red and hit a low of ₹431.75. However, shares rose 0.55% and are currently trading at ₹438.90 apiece on NSE in noon deals
Shares of aluminium producer Hindalco Industries have plunged 35 per cent from their 52-week high hit in March 2022. Hindalco stock, which touched a 52-week high of Rs 636 on March 23, 2022 was trading at Rs 412 on BSE today, down 35.22 per cent during the period. Later, the Hindalco stock touched an intraday high of Rs 419, rising 2.03 per cent from the previous close of Rs 410.65. Hindalco shares are trading higher than the 5-day, 20-day, 50-day and 100-day moving averages but lower than 200-day moving averages.
The company's revenue from operations jumped 44 per cent to Rs 50,272 crore in the third quarter as against Rs 34,958 crore in the same quarter last fiscal.