Nalco jumps on bargain hunting

National Aluminium Company rose 6.94% to INR 64.75 at 11:50 IST on BSE on bargain hunting after the stock fell 8.47% in the preceding three trading sessions to INR 60.55 on 16 September 2014, from a recent high of INR 66.15 on 11 September 2014.

Meanwhile, the BSE Sensex was up 98.47 points, or 0.37%, to 26,590.98.

On BSE, so far 6.58 lakh shares were traded in the counter, compared with an average volume of 10.21 lakh shares in the past one quarter.

The stock hit a high of Rs 66.20 and a low of INR 61.15 so far during the day. The stock hit a 52-week high of INR 67.60 on 11 September 2014. The stock hit a 52-week low of INR 31.50 on 26 September 2013.

The stock had outperformed the market over the past one month till 16 September 2014, rising 7.07% compared with 1.49% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 10.90% as against Sensex's 5.17% rise.

The large-cap company has an equity capital of INR 1288.62 crore. Face value per share is INR 5.

National Aluminium Company (Nalco)'s net profit jumped 69.68% to INR 270.99 crore on 7.53% growth in total income to INR 1870.40 crore in Q1 June 2014 over Q1 June 2013.

Nalco is Asia's largest integrated aluminium complex, encompassing bauxite mining, alumina refining, aluminium smelting and casting, power generation, rail and port operations.

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