Shares of Hindalco dropped nearly 7 percent following a sharp 28 percent decline in Constellium SE's stock after its quarterly results were reported. Constellium reported lower third-quarter profit and revenue due to weakening demand across multiple end markets and disruptions caused by flooding at its Swiss facilities.Constellium SE, a Paris-based global manufacturer, specializes in aluminum roll...

Top Buy IdeasThe benchmark indices rebounded smartly from a two-month low, with the Nifty 50 rising 0.4 percent on October 18 after three days of losses; however, the market breadth was weak. About 1,311 shares declined against 1,183 shares that advanced on the NSE. The index may extend its upward trend in the upcoming session but overall remains consolidative. Below are some trading ideas for the...

The market attempted to extend the previous day's rally but selling pressure in late trade pulled it down to close marginally lower on October 9. However, the market breadth remained positive due to buying in the broader space, with about 1,708 shares advancing against 802 declining shares on the NSE. Volatility is expected to continue in the market, with support at the current week's low. Below a...

Shares of Hindalco gained on May 29 as the Aditya Birla Group firm is set to list its US subsidiary Novelis on the New York Stock Exchange (NYSE), offering 45 million shares at $18-21 apiece.This represents 7.5 percent of Hindalco’s current stake in the company, according to public disclosures. Novelis’ IPO (initial public offering) could generate up to $945 million for Hindalco as proceeds fr...

Kotak Institutional Equities has upgraded earnings estimates and also raised the target price for Vedanta Ltd, National Aluminum Co Ltd, and Hindalco Industries Ltd following the recent rally in metal prices globally.The brokerage raised Vedanta’s target price by 25.5 percent to Rs 320 a share. The target price for National Aluminum has been raised to Rs 130 from Rs 90 and that of Hindalco Indus...