Hindalco, NALCO to Vedanta Aluminium: Aluminium stocks slide up to 6%. Here's why
New Delhi, June 16 -- Shares of several aluminium producers such as NALCO, Vedanta Aluminium and Hindalco declined up to 6% in intraday deals on Tuesday, 16 June, tracking a sharp decline in global aluminium prices.
NALCO was among the top losers today as it shed nearly 6% and hit a low of Rs.359.60 apiece on the BSE. Recently demerged Vedanta group entity, Vedanta Aluminium - which listed on the bourses a day ago - was locked in the 5% lower price band for the second straight session.
Largecap stock Hindalco also witnessed strong selling pressure as it shed over 3% today. Hind Aluminium and Maan Aluminium were some other stocks from the pack that traded with cuts of over 1% today. Some of these stocks also dragged the Nifty Metal index...
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