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Indian-Commodity  :  Equity & Shares  :  Hindalco shines on plan of spending Rs 250 crore in a new wire-rod plant at Dahej

Hindalco shines on plan of spending Rs 250 crore in a new wire-rod plant at Dahej (16-Aug-2016)

Hindalco Industries is currently trading at Rs. 150.20, up by 4.00 points or 2.74% from its previous closing of Rs. 146.20 on the BSE.

The scrip opened at Rs. 146.20 and has touched a high and low of Rs. 151.30 and Rs. 146.20 respectively. So far 499415 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 151.90 on 08-Aug-2016 and a 52 week low of Rs. 58.85 on 12-Feb-2016.

Last one week high and low of the scrip stood at Rs. 151.90 and Rs. 138.60 respectively. The current market cap of the company is Rs. 31047.39 crore.

The promoters holding in the company stood at 37.69%, while institutions and non-institutions held 39.97% and 15.42% respectively.

Hindalco Industries is planning to invest Rs 250 crore in a new wire-rod plant at Dahej in Gujarat. The new facility with a capacity of 2.50 lakh tonnes will take the company's total wire-rod production capacity to four lakh tonnes from the current 1.50 lakh tonnes, the plant is likely to start the production by March 2018.

The investment is part of a strategy to enhance the contribution of value-added products to 60 per cent of overall sales from 40 per cent now. The recently commissioned wire-rod mill in Mahan pushed up copper value-added production by 80 per cent in June quarter.

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, aluminium smelting to downstream rolling, extrusions, foils and alloy wheels, along with captive power plants and coal mines.


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