Hindalco Industries acquires Alcan's Stake in Utkal Alumina

With reference to the earlier announcement dated July 19, 2007, regarding the Company to acquire Alcan stake in Utkal Alumina, Hindalco Industries Ltd has announced that acquisition of entire shareholding of Alcan Inc., comprising of 78,564,384 Equity Shares in Utkal Alumina International Ltd has been completed. Now, Utkal Alumina International Ltd is 100% subsidiary of the Company.

The stock was trading at Rs.165.50, down by Rs.3.70 or 2.19%. The stock hit an intraday high of Rs.170.90 and low of Rs.162.50.

The total traded quantity was 119847 compared to 2 week average of 1421145.

Source : Equity Bulls

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