Hindalco stock up on expectations of good Q3 numbers

Shares of Hindalco Industries gained 3 per cent today as investors expect it to come out with strong third-quarter numbers following robust figures reported by US rival Alcoa overnight.

Alcoa on Monday posted its highest quarterly earnings in more than two years and topped forecasts. The aluminum maker earned 21 cents per share during the fourth-quarter on revenue of $5.7 billion. Analysts were expecting 19 cents per share.

In India, the stock of Hindalco is currently trading at Rs 226.60 per share, up Rs 3.80. The stock hit an intra-day high of Rs 231.40 and a low of Rs 223 today. The total traded quantity on the Bombay Stock Exchange stood at 12.73 lakh shares.