Hindalco Industries (NSE: HINDALCO) shares are up 5.6% today. The HINDALCO share price rise is difficult to explain given that there’s no company specific news hitting the market. Other than that the trading period has now ended and we’ve a month to wait for the results to come out. We can divine this from the last corporate release to the market which is that the trading window has now closed: “Meeting of the Board of Directors of the Company will be held on Friday, November 10, 2023 inter alia to Consider and Approve Unaudited Consolidated and Standalone financial results of the Company for the quarter & half year ended September 30, 2023. (‘said results’) b. Trading Window: In view of declaration of said results, the ‘Trading Window’ for dealing in securities of the Company shall remain closed: from: Sunday, October 01, 2023until: Sunday, November 12, 2023 (i.e. 48 hrs post declaration of said results)”
That’s not a grand piece of investigative reporting there it should be said. They’ve actually told us the results are coming after all. But that is the only thing we can see as being of any importance in corporate announcements. So, we’d have to assume that it is linked to the share price rise. And perhaps hopes for the upcoming results are what is driving the price too.
About those coming results. It’s worth noting that Hindalco is not merely a commodity aluminium producer. Acquisitions have made it into a specialty manufacturer: “acquire the American company Novelis for US$6 billion, making the combined entity the world's largest rolled-aluminium producer.” and “On 15 April 2020, Novelis acquired US-based Aluminium rolled products manufacturer Aleris Corporation.” So it’s not possible for us to simply backtrack from the global aluminium price to see what Hindalco’s profits are like. It’s a much more complex company than that.
So, yes, it could be simply this wait for the coming results which has people bidding up the shares in hope. Given the absence of any other visible cause that’s what we’ll assume too.