India Foils hits roof on Alcoa interest

DALAL STREET SPIKES

India Foils hit the upper circuit following reports that Alcoa Inc is planning to buy out Vedanta group's 45 per cent stake in the company.

The stock as a result hit the permissible limit immediately on its opening and closed at Rs 20.25 with pending buy orders on the counter.

The counter witnessed impressive volumes of over 2.25 lakh shares on BSE today.

Along with Alcoa, others in the race to buy the stake are Hindalco Industries, Essel Packaging, Nagrika Foils and PG Foils.