The Economic Times

NALCO shares scale fresh record high after 14% jump in 4 days. Can the aluminium-backed momentum last?

NALCO shares hit a fresh record high after a sharp four-day rally, tracking a surge in global aluminium prices to over $3,000 a tonne and strengthening expectations of a supply deficit. Strong quarterly earnings, an improving industry outlook and bullish technical signals have fuelled the momentum, even as overbought indicators raise questions about sustainability.