NALCO hits record high as India metal stocks ride Fed cut bets
Shares of India’s National Aluminium Company Ltd (NALCO) hit a record 314 rupees Monday before falling to 300.8 rupees, down 2%. India’s Nifty Metal index also touched a 52-week high before closing lower as commodity prices dropped. Analysts cited U.S. rate-cut hopes and Chinese demand as key drivers. NALCO shares have gained about 41% over the past year.
