New Delhi, May 27 -- Shares of Aditya Birla Group company Hindalco Industries and state-owned Nalco rallied up to 5% on Wednesday after aluminium prices surged to a four-year high amid escalating Iran war tensions and concerns over possible production cuts in China, the world's largest aluminium producer.

The rally was also supported by expectations of strong business performance following healthy March quarter revenues. Market experts believe Hindalco is likely to outperform its peers in the near term, aided by improving performance across business segments and rising aluminium prices globally.

Shares of Hindalco climbed as much as 4.5% to hit a fresh 52-week high of Rs.1,154 on the BSE, while Nalco surged 5.1% to Rs.437.50. On the Lon...