Hindalco Looks Up On Bargain Hunting

The share price of Hindalco rose slightly in a weak market on Tuesday on good buying support from institutions.

The stock of the aluminium major was marginally up by 0.54 per cent to close at Rs 568.80 on the BSE. A volume of 7,871 shares was witnessed on the BSE.

Between February 5 and February 24, 2003, the stock shed 7.85 per cent to Rs 565.75 from Rs 614. Life Insurance Corporation (LIC) was said to be active on the counter.

According to analysts, there was bargain-hunting in the stock after a recent fall. In the current year, the aluminium sector may not witness significant growth as the prices are not expected to rise due to the huge pile-up of the white metal in the international markets.

Imation Corp deals lift Moser Bear

Moser Bear India rose sharply on Tuesday after the company announced two separate deals with Imation Corp, which is likely to boost its revenues by $100 million annually.

The scrip of the floppy/compact disc maker was up by 4.32 per cent and closed the day on the BSE at Rs 238.20. It recorded a day