Epic Research Update : Hindalco Industries

Hindalco Industries came into jubilant mood after its global peer Alcoa Inc, the largest U.S. aluminium producer, reported adjusted Q1 earnings of $0.09 cents per share, which was stronger than the $0.05 expected. Alcoa has registered $5.5 billion in first quarter revenue, a figure that beat Street expectations of $5.4 billion but marks a 2% decline over the prior quarter and a 6% decline from the first quarter of 2013, a decline that’s largely due to an 8% drop in year-over-year aluminum prices as well as capacity reductions in the company’s struggling primary metals unit.

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