The Hindu Business Line : Betting on aluminium sector

If steel was the theme at the bourses last week, this week it is likely to be aluminium. Dealers say activity in the Nalco and Hindalco counters is increasing and they expect the turnover in these stocks to significantly increase over the next few trading sessions. The companies have also raised prices and this would contribute to their top lines.

Also, analysts are reworking their projections for the sector, taking into account infrastructure growth in the economy.

Nalco touched an intra-day high of Rs 302, and ended trade at Rs 298.60. Over two lakh shares were traded on the BSE on Monday. Volumes at this counter are much higher in comparison to the activity in the last two weeks, according to information from the exchanges.

Hindalco, in which renewed buying interest is just picking up, registered intra-day gains of Rs 5, and ended trade at Rs. 184.75. Analysts The stock has appreciated by over 15 per cent in the last month of trade.

More Stories on : Stock Markets | Ear to the ground | Aluminium

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