Hindalco Industries rose 4.39% to Rs 182 at 15:16 IST on BSE after a foreign brokerage upgraded the stock to buy from underperform.
Meanwhile, the BSE Sensex was up 326.90 points, or 1.30%, to 25,555.55.
On BSE, so far 14.32 lakh shares were traded in the counter, compared with an average volume of 11.69 lakh shares in the past one quarter.
The stock hit a high of Rs 182.50 and a low of Rs 174.45 so far during the day. The stock hit a 52-week high of Rs 184.65 on 10 July 2014. The stock hit a 52-week low of Rs 83.05 on 7 August 2013.
The stock had outperformed the market over the past one month till 15 July 2014, rising 7.56% compared with the Sensex being flat in the same period. The scrip had also outperformed the market in past one quarter, rising 29.92% as against Sensex's 12.20% rise.
The large-cap company has an equity capital of Rs 206.47 crore. Face value per share is Re 1.
The brokerage cited positive outlook for aluminium prices, better margin at unit Novelis (Hindalco's subsidiary) and balance sheet deleveraging as key reasons for upgrading shares of Hindalco Industries.
Hindalco Industries' net profit declined 48.5% to Rs 248.15 crore on 20.9% growth in net sales to Rs 8359.85 crore in Q4 March 2014 over Q4 March 2013.
Hindalco Industries is the world's largest aluminium rolling company and one of the biggest producers of primary aluminium in Asia. Its copper smelter is the world's largest custom smelter at a single location.
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