Nalco witnessed a correction from a 52-week high of Rs 105. It has bottomed out near its 200-DMA, which was at Rs 87. The tock made a double-bottom formation pattern.
Revenue from operations in the reporting period rose 10% to Rs 30,221 crore against Rs 27,486 crore in the corresponding period of the previous year. The revenue growth was driven by the performance of key subsidiaries UltraTech Cement and Aditya Birla Capital. However, softening of realisations in Caustic Soda impacted the standalone performance.
Hot stocks today: Indian equity benchmarks were trading lower today. The 30-share BSE Sensex fell 94 points to 66,379 and Nifty lost 21 pts to 19,790. Here s a look at stocks buzzing in early deals.
Top stock picks for today: "NTPC has seen multi-year breakout. It is looking positive on all timeframes. One can buy NTPC shares for a target price of Rs 260, keeping a stop loss placed at Rs 235," Sudeep Shah of SBI Securities told BT TV.