​Hindalco's shares snapped a 4-day fall

Hindalco Industries Ltd., India's top aluminium maker, snapped a 4-day fall after its first quarter operating margin beat market's estimates despite a sharp fall in quarterly earnings.

Hindalco said its first quarter operating margin rose to 10.3 percent compared with 9.4 percent in the year ago quarter. Sales rose 7 percent during April-June to 8,575 crore rupees compared with 7,996 crores in the same period last year. But profit sank 67 percent to 107 crore rupees from 327.50 crore rupees in the comparative periods.

Hindalco rose 3.35 rupees, or 3.7 percent, to 94.15 rupees on the national stock exchange where 90.8 lakh shares were traded.

Hindalco's market capitalisation has fallen 47 percent to 19,000 crore rupees in the past one year owing to the sharp slide in metal prices globally. The company trades at 0.47 times its book value of about 196 rupees.

Image credit: Indiatimes