{"id":108868,"date":"2023-09-04T14:16:44","date_gmt":"2023-09-04T08:46:44","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=108868"},"modified":"2023-09-04T14:18:55","modified_gmt":"2023-09-04T08:48:55","slug":"metal-stock-jumps-up-to-4-after-it-planned-to-acquire-a-stake-in-renewable-energy-company","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/metal-stock-jumps-up-to-4-after-it-planned-to-acquire-a-stake-in-renewable-energy-company\/","title":{"rendered":"Metal stock jumps up to 4% after company to acquire 26% stake in renewable energy company\u00a0"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1723544004\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>The shares of Asia&#8217;s largest producer of primary aluminum rose 4 percent to Rs 492.30 a share after the company signed an agreement to acquire a 26 percent stake in a renewable energy company.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2264401921\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>At 1:55 p.m., On the National Stock Exchange, Hindalco Industries Ltd shares were trading at Rs 489.10 per share, up Rs 16 or 3.38 percent from the previous close price. The company has a market capitalization of Rs 1,09,888 crore.&nbsp;<\/p><p>According to the company\u2019s exchange filing, <a href=\"https:\/\/portal.tradebrains.in\/stock\/HINDALCO\/consolidated\" target=\"_blank\" rel=\"noreferrer noopener\">Hindalco Industries Ltd.<\/a> has entered into a Shareholder&#8217;s Agreement and a Power Purchase Agreement with Seven Renewable Power Private Limited to acquire a 26 percent stake or 3,25,000 Equity shares for a face value of Rs 10 in the company, which is involved in renewable energy generation and distribution. The acquisition will be completed within 3-6 months.\u00a0<\/p><p>The acquisition is part of the company\u2019s objective to develop and operate a captive power production facility to provide 100 MW of continuous renewable energy to its Smelter in Odisha.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-723951613\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>The company\u2019s revenue has declined by 8 percent year on year, from Rs 58,018 crore in Q1FY23 to Rs 52,991 crore in Q1FY24. During the same period, Net profit has significantly reduced by 40 percent from Rs 4,119 crore to Rs 2,454 crore.&nbsp;<\/p><p>As per the recent financial year, the company&#8217;s margin has decreased to a level where the operating margin is 7.54 percent and the net profit margin is 4.51 percent.&nbsp;<\/p><p>According to the recent shareholding pattern, the promoters hold 34.64 percent of the company, while Foreign institutional investors hold 26.25 percent and domestic institutional investors hold a 30.02 percent stake.&nbsp;<\/p><p>Hindalco Industries Ltd. is a flagship company of the Aditya Birla Group. The Company is primarily engaged in the production of Aluminium and Copper.&nbsp;<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written by Omkar Chitnis<\/strong><\/p><\/blockquote><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Disclaimer<\/strong><\/p><\/blockquote><div class=\"wp-block-image\"><figure class=\"aligncenter size-medium\"><img decoding=\"async\" width=\"300\" height=\"300\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/warning-disclaimer-300x300.png\" alt=\"\" class=\"wp-image-26306\"\/><\/figure><\/div><p><strong>The views and investment tips expressed by investment experts\/broking houses\/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-2188101254\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>The shares of Asia&#8217;s largest producer of primary aluminum rose 4 percent to Rs 492.30 a share after the company signed an agreement to acquire a 26 percent stake in a renewable energy company.&nbsp; At 1:55 p.m., On the National Stock Exchange, Hindalco Industries Ltd shares were trading at Rs 489.10 per share, up Rs [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":20429,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,1789],"tags":[11671,11670,948,936,11672],"class_list":["post-108868","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-trending-news","tag-hindalco-latest-news","tag-hindalco-share-price","tag-stock-market","tag-stock-market-news","tag-why-is-hindalco-share-going-up"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - 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