Hindalco gets the 'LIC' touch
By
Research Desk
about 9 years ago
Hindalco is in the limelight today morning and no, it is not on account of metal prices jumping up. It is because LIC has hiked its stake in the company.
India’s largest investor raised its stake from 9.77% to 11.05% in Q4 of FY15 and further to 11.33% till 15th April. As explained in our Market Whispers column, this may have happened due to the relief seen coming in from SC in CBI coal matter, in favour of the company, as matter will not come up for hearing for next 3 years. Our Editor SP Tulsian advises that one can buy as an investor or as a positional trader.
The stock is today up almost 3% currently at Rs.141 and volumes are up some 1.22 times.