Hindalco Industries gained almost 2 percent to Rs 170.70 on BSE on reports that a foreign brokerage has maintained buy call on the stock for a target price of Rs 200.
Meanwhile, the S&P BSE Sensex was down 34.58 points or 0.13 percent at 27,424.41.
On BSE, so far 12.35 lakh shares were traded in the counter as against average daily volume of 13.47 lakh shares in the past one quarter. The stock hit a high of Rs 172.25 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 169.75 so far during the day.
The stock had hit a 52-week low of Rs 58.85 on 12 February 2016. The stock had outperformed the market over the past one month till 7 November 2016, gaining 5.98 percent compared with 2.15 percent fall in the Sensex. The scrip had also outperformed the market in past one quarter, advancing 16.48 percent as against Sensex's 2.21 percent fall.
The large-cap company has equity capital of Rs 206.52 crore. Face value per share is Rs 1.
Hindalco Industries' net profit jumped 381.3 percent to Rs 294.07 crore on 11.9 percent decline in net sales to Rs 7501.39 crore in Q1 June 2016 over Q1 June 2015. The company is scheduled to announce Q2 September 2016 results on 12 November 2016.
A part of the Aditya Birla Group, Hindalco Industries is the world's largest aluminium rolling company and one of the biggest producers of primary aluminium in Asia. Its copper smelter is amongst the largest single location custom smelter globally.
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Technical comment for the day: Gold