National Aluminium Company (Nalco) surged 4.58 per cent on Friday to Rs 403.90 on reports that the company has cut aluminium prices by Rs 4,000 a tonne. The scrip opened at Rs 388 and went on to hit a high of Rs 408.85 and a low of Rs 388 during the intraday trading. A total of 129,510 shares changed hands on BSE.
The stock has slipped 4.98 per cent in the last one month. Nalco manufactures and distributes aluminium products. Due to a correction in aluminium prices on LMW, the company has been forced to reduce prices.