Shares of India’s largest aluminium producer, Hindalco Industries rose upto 10% during trading today. The scrip showed such movement after a long gap and it was not on account of any macro factors such as rise in Aluminum and Copper Prices on LME, or changes in duty structure but was brought about speculative newspaper report which states that Canada’s Alcan and Sterlite (subsidiary of London-based Vedanta Resources Plc) could launch a join bid for Hindalco to avoid hostile bid from Alcoa.