MUMBAI — Hindalco cleared ₹1,049.90 on Monday and closed at the exact high of the session, which is the kind of finish that usually means the buying was not finished either. By Tuesday lunchtime the stock was back underneath it.
Hindalco was quoted at ₹1,047.85 on the National Stock Exchange at 11:49 IST, down ₹10.65 or 1.01 percent on Monday’s close of ₹1,058.50, and at ₹1,048.85 on the BSE. It opened at ₹1,055.00, got no higher than ₹1,057.00, and fell to ₹1,040.45 before steadying. Turnover of 16.51 lakh shares is 33.5 percent of an average full day. These are live intraday figures from a session that runs to 15:30.
The reason it went up on Monday and the reason it is down on Tuesday are the same reason, which is what makes this stock worth reading carefully. Hindalco runs two aluminium businesses. One smelts the metal in India and earns a 55 percent margin on it. The other rolls it into sheet in North America and Europe, sells more than four times as much by value, and earns about nine. Only the first is a direct bet on the metal price, and the metal price is what has stopped moving.
Hindalco Share Price Today: NSE and BSE Live Quote, August 25, 2026
| Measure | NSE · HINDALCO | BSE · 500440 |
|---|---|---|
| Last traded price | ₹1,047.85 | ₹1,048.85 |
| Previous close (August 24) | ₹1,058.50 | ₹1,055.20 |
| Change so far | -₹10.65 (-1.01%) | -0.60% |
| Open | ₹1,055.00 | – |
| Session high so far | ₹1,057.00 | – |
| Session low so far | ₹1,040.45 | – |
| Volume so far | 16.51 lakh shares | – |
| 52-week high | ₹1,176.00 (10.90% above the current price) | |
| 52-week low | ₹697.00 (+50.34% from the current price) | |
| Market capitalisation | ₹2,37,124 crore, at Monday’s close | |
| Trailing P/E · Price to book | 11.4 · 1.74 | |
| Book value per share · Return on equity | ₹608 · 13.0% | |
| Live intraday figures captured at 11:49 IST on August 25, 2026, about 154 minutes into a session that runs to 15:30. These are last traded prices, not closing prices, and they will change. Open, high and low for the BSE line were not captured in this run, so those cells are left blank. Valuation ratios and market capitalisation are Screener’s consolidated figures, struck at Monday’s close. | ||
Even after Tuesday’s fall Hindalco is 50.3 percent above its 52-week low and 10.9 percent below its high, which leaves it closer to the top of its own range than Tata Steel, 18 percent below its peak, or Hindustan Zinc. The market has not been treating this as an ordinary metal producer, and one down morning does not change that.
Hindalco Industries Stock Code on NSE, BSE and Global Data Feeds
| Exchange or provider | Code | Notes |
|---|---|---|
| NSE (National Stock Exchange) | HINDALCO | Series EQ. Nifty 50 and Nifty Metal constituent |
| BSE (Bombay Stock Exchange) | 500440 | Scrip code. Group A, BSE 100 constituent |
| ISIN | INE038A01020 | Depository identifier. Face value ₹1 |
| Google Finance | NSE:HINDALCO · BOM:500440 | The exchange-prefixed format Google requires |
| Yahoo Finance | HINDALCO.NS · HINDALCO.BO | Suffix marks the exchange |
| ISIN, scrip code and face value confirmed against the BSE company header feed. Hindalco is the metals flagship of the Aditya Birla Group and owns Novelis Inc., the world’s largest producer of rolled aluminium products, which it acquired in 2007. | ||
Fifty-Five Percent, Then Nine, Then Five
The segment table from the June quarter is the entire stock in one place.
| Segment | Revenue | Revenue growth | EBITDA | EBITDA growth | EBITDA margin |
|---|---|---|---|---|---|
| Aluminium Upstream | ₹13,403 cr | +44% | ₹7,390 cr | +81% | 55% |
| Novelis | $5,800 mn | +23% | $516 mn | +24% | 8.9% |
| Copper | ₹17,232 cr | +16% | ₹918 cr | +36% | 5.3% |
| Aluminium Downstream | ₹4,889 cr | +46% | ₹298 cr | +30% | 6.1% |
| Segment revenue, EBITDA and growth rates are as printed in Hindalco’s Q1 FY27 results release of August 7, 2026; the company states the upstream margin as 55 percent. The other three margin figures are calculated by The Eastern Herald from the revenue and EBITDA columns. Segments do not sum to the consolidated totals because of inter-segment eliminations and unallocated items, so shares of group profit should not be inferred directly from this table. | |||||
Read down the last column. Fifty-five percent, then nine, then five, then six. Upstream smelting turned ₹13,403 crore of revenue into ₹7,390 crore of EBITDA. Novelis turned $5.8 billion, roughly four times as much money, into $516 million. Copper is the largest Indian segment by revenue and the smallest contributor of the four at the margin line.
That is the investment case and the risk in the same table. The high-margin business is the one geared directly to the aluminium price on the London Metal Exchange, which is exactly what has been rising through August. When the price falls, 55 percent margins compress faster than 9 percent ones, simply because there is more of the margin to lose. Novelis is the ballast. It converts scrap into sheet on a spread rather than a price, which is why its EBITDA grew 24 percent in a quarter when upstream grew 81 percent, and why it will not fall 81 percent when the cycle turns.
The Quarter That Set the Level
| Measure | Q1 FY27 | Q1 FY26 | Change |
|---|---|---|---|
| Revenue | ₹84,825 cr | ₹64,232 cr | +32% |
| EBITDA | ₹14,989 cr | ₹8,673 cr | +73% |
| EBITDA margin | 17.7% | 13.5% | +4.2 points |
| Profit after tax | ₹7,013 cr | ₹4,004 cr | +75% |
| Net debt to EBITDA | 1.95x | – | – |
| Figures as printed in Hindalco’s Q1 FY27 results release of August 7, 2026. Where other summaries of these results quote an EBITDA margin near 16.4 percent, the company’s own release states 17.7 percent, which is what ₹14,989 crore of EBITDA on ₹84,825 crore of revenue produces. | |||
A margin rising 4.2 percentage points while revenue rises 32 percent is the signature of a producer catching a price rather than cutting a cost. That is a good quarter and a fragile one, in the sense that the mechanism which produced it runs in reverse just as efficiently. Novelis had its own reasons for a strong three months, restarting the Oswego hot mill and drawing benefits from a cost programme, with net income up 71 percent to $164 million. But at an 8.9 percent margin it remains a business that turns over enormous sums to produce modest profit, and the 1.95 times net debt to EBITDA the group carries is largely the legacy of buying it in 2007.
Hindalco Share Price: The Level That Was Cleared and Lost
| Date | Close (₹) | Change | Volume |
|---|---|---|---|
| August 14, 2026 | 1,029.50 | -1.60% | 34.23 lakh |
| August 17, 2026 | 1,049.90 | +1.98% | 30.63 lakh |
| August 18, 2026 | 1,041.60 | -0.79% | 25.25 lakh |
| August 19, 2026 | 1,038.95 | -0.25% | 21.25 lakh |
| August 20, 2026 | 1,029.85 | -0.88% | 43.22 lakh |
| August 21, 2026 | 1,034.00 | +0.40% | 26.44 lakh |
| August 24, 2026 | 1,058.50 | +2.37% | 40.52 lakh |
| August 25, 2026, at 11:49 IST | 1,047.85 | -1.01% | 16.51 lakh so far |
| NSE closing prices and volumes; the final row is live intraday and not a close. Monday’s 2.37 percent gain was the largest single-session move of the period and took the stock through the ₹1,049.90 that had capped it on August 17. Tuesday’s pace is running at about 0.82 times a normal day. | |||
The geometry is simple enough to state without embellishment. Hindalco spent five sessions failing to hold above ₹1,040, cleared ₹1,049.90 on Monday and closed at the high, and by Tuesday morning had traded to ₹1,040.45. The breakout level is now overhead again rather than underfoot. ₹1,029.85 remains the base of the move and the 52-week high of ₹1,176 is 10.9 percent above the current price.
One detail argues against reading Tuesday as a reversal rather than a pause: the volume. Monday’s 40.52 lakh shares carried the breakout. Tuesday’s morning turnover extrapolates to roughly four-fifths of a normal day. Whoever bought on Monday is not visibly selling.
What this article cannot tell you is how much of the upstream margin survives an ordinary aluminium price. Hindalco does not publish a realised price per tonne alongside its segment EBITDA, so there is no way from the release to separate how much of the 81 percent EBITDA increase came from volume, how much from the metal price and how much from lower alumina or power costs. Nor does it break out how much of Novelis’s improvement came from the Oswego restart, which is a one-time recovery, against the cost programme, which is not. The 55 percent margin is real. Whether it is the business or the cycle is a question the next two quarters answer and this one does not.
Elsewhere in Tuesday’s session, Steel Authority of India was the only large metal producer still rising, on more than twice a full day’s normal volume, and Hindustan Aeronautics fell to within ₹1.60 of its results-day low.
Hindalco’s June-quarter figures come from the company’s own Q1 FY27 results release of August 7, 2026. Intraday prices and the scrip identifiers were checked against the exchange’s own quote page for scrip 500440.
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