NALCO surges nearly 5% on stake sale buzz

National Aluminium Company (NALCO) surged 4.7% on Friday on hope the governmentmaydivest 12.15% stake in the company. The department of divestment has invited merchant bankers for the process of follow-on public offer, according to media reports.Shares of the company are trading at Rs 51.95, up Rs 2.35, or 4.74% at the Bombay Stock Exchange (BSE) on Friday at 11:30 a.m.The scrip has touched an intra-day high of Rs 53.20 and low of Rs 50.20. The total volume of shares traded at the BSE is 86,901.In the earlier session, the shares declined 0.8%, or Rs 0.4, at Rs 49.60. Currently, the stock is trading down 24.6% from its 52-week high of Rs 68.90 and above 8.23% over the 52-week low of Rs 48.00.

Share Price Movement Period Pricein Rs Gain/(Loss) in Rs in % 1 Week 50.05 (0.45) (0.90) 1 Month 54.40 (4.80) (8.82) 3 Months 59.50 (9.90) (16.64) 6 Months 61.05 (11.45) (18.76) 1 Year 67.20 (17.60) (26.19) Note: Based on previous day closing price.