India's NALCO jumps after Q3 profit beat

National Aluminium

14/02/2024 07:37

** Shares of India's National Aluminium Company (NALCO)
 NALU.NS  up 9.1% after beating Q3 profit estimates
    ** Shares gained as much as about 10% earlier in the day, in
sharpest intraday pct rise since Dec. 28
    ** Co set to snap five straight sessions of losses 
    ** More than 70 mln shares changed hands by 12:50 p.m. IST,
nearly twice 30-day avg 
    ** NALU trading at 155 rupees, a 43% premium to the average
PT set by nine analysts covering the stock, mean recommendation
equivalent to "buy" - LSEG data
    ** YTD, stock has risen ~18% vs rival Hindalco's  HALC.NS 
~18% fall, which is currently trading 0.7% lower   

 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com;))