NALCO surges over 8% on smart Q3 results
Mumbai: Shares of aluminium major NALCO Wednesday soared by over 8 percent after the company reported more than two-fold jump in net profit for the quarter ended December 31, 2012.
After surging over 9 percent during the day, shares of the company finally ended at Rs 50.60, up 8.12 percent on the BSE.
At the National Stock Exchange, the stock closed at Rs 50.65, up 8.23 percent from its previous close.
In terms of volume, 10.16 lakh shares of the company changed hands on the BSE, while over 21 lakh shares were traded on NSE.
NALCO today reported more than two-fold jump in net profit to 118.94 crore for the quarter ended December 2012, on the back of improved sales.
The National Aluminium Company (NALCO) had reported a net profit of Rs 51.22 crore for the corresponding period of FY12.
State-run NALCO is an integrated aluminium maker, with its activities encompassing bauxite mining, alumina refining, aluminium smelting and casting, power generation, rail and port operations.
Rally in the stock outperformed the benchmark Sensex which ended up 14.10 at 20,005 points.