Maan Aluminium, an India-based manufacturer and trader of aluminium profiles, has reportedly advanced to a year-high in intraday trading, standing above INR 160 (USD 1.79). This peak follows back-to-back gains in the past three days from INR 132.41 (USD 1.48) on November 24 to INR 149.12 (USD 1.67) on November 27. Hence, until the moment, Maan Aluminium has recorded a hike of 21.5 per cent since November 24, delivering an 18 per cent return to shareholders.
The report says the company opened the trading session this morning with a gap of 4.36 per cent, signalling robust buying sentiment in the market. Also, the company’s performance compared to its peers from other metal sectors by leading with a stock price above 4.81 per cent also indicates strength within the non-ferrous metals industry.
The overall market environment has also been supportive of Maan’s performance, with the Sensex trading at 85,928.04 points, which is only 0.15 per cent less than the 52-week high. The index’s position is above 50-day and 200-day moving averages, and so is Maan’s. But here’s where the non-ferrous sector stands out in particular. Maan’s 52-week low was INR 75.51 (USD 0.84), meaning the company’s stock price has simply doubled.