The block deal constituted 0.06% of the company's equity.Meanwhile, the BSE Sensex was up 331.42 points, or 3.62%, to 9,494.04.On BSE, 40.25 lakh shares were traded in the counter. The stock had an average daily volume of 29.98 lakh shares in the past one quarter.The stock hit a high of Rs 53.90 and a low of Rs 50.90 so far during the day. The stock hit a 52-week high of Rs 200.65 on 7 January 2008 and a 52-week low of Rs 38.05 on 27 October 2008.
The mid-cap stock had underperformed the market over the past one month till 8 December 2008, declining 16.13% as compared to the Sensex's decline of 8.05%. It had also underperformed the market in the past one quarter, declining 59.55% as compared to the Sensex's decline of 38.69%.The company's current equity is Rs 175.32 crore. Face value per share is Rs 1.
The current price of Rs 52.80 discounts the company's Q2 September 2008 annualized EPS of Rs 23.47, by a PE multiple of 2.25.Recently, Hindalco repaid the bridge loan taken to acquire Novelis. Hindalco raised $982 million in a five-year foreign currency loan at 315 basis points above the London interbank offered rate (Libor) and used it to clear the $3.03 billion bridge loan taken at 80 basis points over Libor for acquiring Canada's Novelis in 2007.
Hindalco Industries' net profit rose 12% to Rs 719.95 crore on 14.4% increase in net sales to Rs 5683.18 crore in Q2 September 2008 over Q2 September 2007.Hindalco Industries is India's largest aluminium producer and is engaged in producing aluminium and semi- fabricated products.
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