Hindalco falls after peer Alcoa disappoints on earnings, outlook
Jan 10 2014 , Mumbai
Excluding the impairment charge of $1.7 billion on smelter acquisitions and other special items, Alcoa group earnings fell to $40 million, falling short of analysts expectations.
Alcoa said it expected global aluminium demand to grow 7 percent in 2014, consistent with its 7 percent growth in 2013.
Analysts tracking the sector say Alcoa's stagnant outlook on global demand for aluminium does not bode well for Hindalco's U.S. subsidiary Novelis Inc.