Novelis (NVL) rose 33% Friday after the struggling aluminum company confirmed that it's in talks to sell itself.

The Atlanta-based can recycler said late Friday morning that it "is currently in discussions with various parties that could lead to a potential sale of the company." The Hindustan Times earlier reported that the Alcan ( AL) spinoff was near a deal with a big industrial group in India.

Novelis has been hit hard over the past year by accounting problems and supply contract issues.

Shares rose $9.62 to $39.75.

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