Shares of Hindalco Industries took a substantial hit on Wednesday, falling 6.18% or ₹44.35 to trade at ₹672.75 on the NSE at 9:30 AM. This sharp decline followed disappointing Q3 results from Constellium, a global leader in aluminum manufacturing, which cited demand weakness across several key markets. The poor performance of Constellium has dampened investor sentiment toward Hindalco, as concerns about the aluminum sector’s global growth prospects rise.
Hindalco shares drop 6.18% as Constellium’s poor Q3 results and demand weakness weigh on sentiment
Key stock details:
- Open: ₹715.00
- High: ₹715.00
- Low: ₹671.10
- Previous Close: ₹717.10
Constellium’s results have sent ripples through the global metals market, affecting Hindalco’s stock significantly. Investors are reacting to concerns about broader industry trends and potential demand slowdowns.
Hindalco’s market capitalization saw a loss of approximately ₹8,472.59 crore in today’s trading, as the company’s total market cap dropped to ₹1,52,170.27 crore from ₹1,60,642.86 crore based on the stock’s previous closing price of ₹717.10.
This substantial market cap loss reflects the immediate impact of global market conditions on Indian stocks, particularly those in the metal and commodity sectors, which are closely tied to international demand and pricing trends.
