Hindalco is trading at Rs 116 on the BSE, lower by Rs 5 or 4%. The stock had opened at Rs 119 and has touched a low of Rs 112 thus far.
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India’s largest aluminum producer's standalone net profit for the September quarter declined by 52 per cent to Rs 344 crore due to a drop in metal prices. Aluminum prices in the reporting quarter were, on an average, about 35 per cent lower on the London Metal Exchange (LME).
The company had reported a net profit of Rs 720 crore in the corresponding quarter of the previous financial year.
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