Hindalco gains as Novelis renews contract

BSE 22 May 12 | 02:16 PM

108.05		-2.25 (-2.04%)
Mkt Price (Rs)		Chg Rs (Chg %)

Code: 500440

Face Value: N.A.

NSE 22 May 12 | 02:15 PM

107.85		-2.55 (-2.31%)
Mkt Price (Rs)		Chg Rs (Chg %)

Code: HINDALCO

Performance
1 Week	:	Rs	114.20	(-5.39%)
1 Month	:	Rs	125.00	(-13.56%)
1 Year	:	Rs	192.20	(-43.78%)

Hindalco gains as Novelis renews contract

SI Reporter / Mumbai 11 Jan 12 | 09:46 AM

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Hindalco Industries is trading higher by 3% at Rs 127, extending its Tuesday’s 4% rally, after Novelis Inc, also part of the Aditya Birla Group, renewed its can-body sales agreement with Coca-Cola Bottlers' Sales & Services Company (CCBSS).

Novelis Inc and CCBSS, on Tuesday announced the signing of a multi-year agreement for the supply of aluminum can sheet. The agreement took effect January 1, 2012. The two companies have also agreed to dismiss all pending litigation relating to the previous contractual terms, reports suggest.

A combined 2.01 million shares have changed hands on the counter in morning deals on the NSE and BSE.