The stock touched a high of Rs 116 - up 7.5% from its previous close. It finally ended with a gain of 4.3% at Rs 113. The stock surged nearly 21% in the past week. The counter witnessed extremily hevay volumes of 12.38 millions shares as against its two-week average trade of 3.5 million shares.
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(Updated at 1233 hrs)
Hindalco has surged 4.5% in noon trades today on rising copper and aluminium prices.
The stock opened at Rs 108 and rallied 6.5% to a high of Rs 115.The stock is now trading at Rs 113 - up 4.6%. The stock has soared 21% in the past month. Over 5.27 million shares have been traded at the counter so far.
According to reports, copper prices soared to a 10- month high of $5,946 per ton, yesterday. This has further led other base metals to multi-month peaks even as the $ dipped lower.
Hindalco's alumina chemical business is a leader in manufacturing and marketing alumina and alumina hydrate products. It commands 40% of the domestic market share and has also made successful forays into export markets of the Middle East, Southeast Asia and China.
