Hindalco Industries share price rose in early trade today after the firm said it has re-started production of alumina in Mury refinery in Jharkhand. Hindalco Industries share price gained up to 1.5% to Rs 218 against previous close of Rs 214.90 on BSE.
The large cap stock has gained after two days of fall. During last one month, the stock has gained 14%. However, it has fallen 0.64% during last one year and lost 4.18% since the beginning of this year.
The aluminium and copper manufacturing company which is a subsidiary of the Aditya Birla Group said Muri refinery in Jharkhand has re-started production of alumina. The plant had initiated the start-up process after receiving the consent to operate from the Jharkhand State Pollution Control Board (JSPCB). The company may not need to import alumina, Hindalco Industries said.
Operations in this alumina plant were suspended due to spillage in the red mud cake storage area, the firm said.
Meanwhile, Sensex and Nifty were flat in early trade. While Sensex fell 5 points to 41,637, Nifty was unchanged at 12,262.