Ripples Advisory, Hindalco Industries surges with arm inking agreement to acquire 100% control in Aleris Corporation
Hindalco Industries is currently trading at Rs. 215.25, up by 8.70 points or 4.21% from its previous closing of Rs. 206.55 on the BSE.
The scrip opened at Rs. 207.45 and has touched a high and low of Rs. 220.35 and Rs. 207.45 respectively. So far 358966 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 283.95 on 05-Jan-2018 and a 52 week low of Rs. 192.50 on 23-Jul-2018.
Last one week high and low of the scrip stood at Rs. 220.35 and Rs. 192.50 respectively. The current market cap of the company is Rs. 46376.18 crore.
The promoters holding in the company stood at 34.67%, while Institutions and Non-Institutions held 47.00% and 12.28% respectively.
Hindalco Industries’ wholly owned subsidiary -- Novelis Inc has signed an agreement to acquire 100% control in Aleris Corporation on July 26, 2018. The cost of acquisition is of $775 million plus up to $50 million in additional payments through an Earn-out-provision.
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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