Nalco hits fresh 52-week high; Hindalco, Tata Steel, JSW Steel also gain

Riding high on upbeat mood in the market, the shares of National Aluminum Company Limited (NALCO) hit a fresh 52-week high of Rs 122.85 and touched 10% upper circuit in the intraday trade on BSE on Monday.  

The shares of NALCO were trading at Rs 116.25, up Rs 8.70 or 8.09% on the BSE at around 11.15 am on Monday. The shares saw spurt in volume by 1.06 % on the Bombay Stock Exchange. Nalco share price on NSE was Rs 118.95, up Rs 11.35 or 10.55% from the previous close.  

Meanwhile, as per September quarter shareholding on BSE, promoters & promoters group held 51.28 per cent stake, aggregating up to 94,17,93,011 shares, while public has 48.72 per cent worth 89,48,38,776 shares in the government company.  

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Meanwhile, steel and aluminum company also contributed in the stellar opening for the Nifty 50 as Hindalco, Tata Motors, JSW Steel, Titan and Tata Steel were top gainers on NSE. On the S&P BSE Sensex, Titan, Infy, Tata Steel, Maruti and ICICI Bank were leading the 30-share index.  

Earlier, during the market opening, Nifty50 and S&P BSE Sensex scripted history with record high openings on Monday as the indices opened at 18,500.10 and 61,817.32 respectively.  

The cue came from the SGX Nifty which opened in the green indicating positive opening for the Indian markets.  

Asian markets started first day of the week on negative note as major indices, including Japanese Nikkei 225, Hong Kong's Hang Seng and Singapore's FTSE Straits Times Index, all were trading in the read around 8.20 am on Monday.  

However, the major wall street indices—Dow Jones, Nasdaq Composite and S&P 500, all closed with good gains on back of Goldman Sachs becoming the latest big bank to report strong quarterly earnings.