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Shares of Hindalco, a subsidiary of the Aditya Birla group, are trading higher by 2% to Rs 140 on the Bombay Stock Exchange (BSE) on reports that India's largest investor Life Insurance Corp (LIC) increased stake in the company. CLICK HERE TO READ THE REPORT
Recently, Alcoa, the world's third largest aluminium producer, reported numbers in the US with revenues disappointing even as profits topped estimates. JP Morgan said Alcoa's commentary around the auto segment continued to remain positive which highlighted revenue visibility for Hindalco's Novelis unit.
The stock opened at Rs 13 7.65, touched a high of Rs 140 on the BSE. A total of 314,833 shares changed hands on the BSE so far.
