NALCO gains on price hike report

National Aluminium Company (NALCO) has soared over 5% at Rs 48.80 on back of heavy volumes after the state-owned company raised aluminium prices with effect from December 1.

“NALCO has raised aluminium prices by Rs 4,500 per tonne for all products in the domestic market, effective December 1,” the Reuters report suggests.

“The basic price of standard aluminium ingots after the latest increase is Rs 143,700 per tonne,” added report.

The stock opened at Rs 47.90 and hit a high of Rs 49.90 on the BSE. As many as a combined 801,512 shares have already changed hands on the counter so far against an average 250,000 shares that were traded daily in past two weeks.