Hindalco shares fall 3% as Alumina plant shuts

Last Updated: Wed, Apr 10, 2019 17:36 hrs
An employee looks at an aluminium foil roll being lifted at a plant in Binzhou

Mumbai: Shares of Hindalco Industries on the BSE declined around 3 per cent on Wednesday as the company temporarily shut the operations of its alumina plant in Jharkhand after a spillage incident injured four people.

The incident occurred on Tuesday, in the red mud (bauxite residue) storage area connected to the alumina plant in Muri. It involved the spillage in the red mud cake storage area.

At 1.39 p.m, the shares of Hindalco Industries traded at Rs 210.35 per share, lower by Rs 6.40 or 2.95 per cent from its previous close.

In a regulatory filing on Wednesday, the company said: "As a precautionary measure, operations have been temporarily suspended to assess the situation."

According to the filing, preliminary investigations do not indicate any material impact on the surrounding environment or to property and efforts are ongoing to clear the spillage.