Ess Dee Aluminum hits 52-week high on heavy volumes

Ess Dee Aluminum has rallied 14% to Rs 463, extending its over 8% surge in past two trading sessions, on back of heavy volumes.

The stock opened at Rs 414 and hit a 52-week high of Rs 468 on the National Stock Exchange (NSE). A combined 880,982 shares have already changed hands on the counter till 1122 hours against an average sub 300,000 shares that were traded daily in past ten trading days on NSE and BSE.

According to media reports, aluminium foil maker, Ess Dee Aluminium is in talks with Australian packaging giant Amcor to sell controlling stake in the company.

Meanwhile, the stock has surged 38% since February 15, after the company said it is exploring new strategic options including joint ventures, partnership as well as technology upgradation.