Hindalco shares surge over 3% as company bags maximum mines

Shares of Hindalco Industries rose over three per cent today after the company bagged the maximum number of mines in the first phase of auction.
The company won three mines that includes two in Chhattisgarh and one in Jharkhand.
The stock went up by 3.38 per cent to Rs 161.70 at the BSE.
On the NSE, it gained 3.35 per cent to Rs 161.80.
In terms of volume, 2.56 lakh shares of the company changed hands at the BSE and over 27 lakh shares were traded at the NSE during the morning trade.
The second round of auctions, in which the government has put on sale 21 mines, will begin from February 25.

The companies that have bagged the 19 blocks put up for auction in the first phase include Reliance Cement, GMR Chhattisgarh, Hindalco, Sunflag Iron and Steel, Jaiprakash Associates, Jaiprakash Power Ventures, OCL Iron and Steel, Bharat Aluminium, Essar Power MP, Jindal Power and UltraTech Cement.