Equity Alert: NALCO shares up nearly 6%; may rise further
0 views
Skip to first unread message
K.Karthik Raja
Jun 9, 2008, 6:30:00 AM6/9/08
to Kences1
..............................................................................
Equity Alert: NALCO shares up nearly 6%; may rise further
Shares of National Aluminium Co surged nearly 6% to 520
rupees helped by firm aluminium prices overseas, dealers said.
"The stock looks strong on the charts and can touch 540-550 rupees
in a week" a technical analyst said.
However, an analyst termed the stock's rise as "surprising and
probably speculative" as it is fairly valued at the current level and
the outlook for aluminium prices is not that bullish.
So far on NSE today, 476,270 NALCO shares have been traded. Its
June futures contract was trading at a 21-point discount to the spot
price, with a 4% rise in open interest.
Equity Alert: NALCO shares up nearly 6%; may rise further
Shares of National Aluminium Co surged nearly 6% to 520
rupees helped by firm aluminium prices overseas, dealers said.
"The stock looks strong on the charts and can touch 540-550 rupees
in a week" a technical analyst said.
However, an analyst termed the stock's rise as "surprising and
probably speculative" as it is fairly valued at the current level and
the outlook for aluminium prices is not that bullish.
So far on NSE today, 476,270 NALCO shares have been traded. Its
June futures contract was trading at a 21-point discount to the spot
price, with a 4% rise in open interest.
Reply all
Reply to author
Forward
0 new messages