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NALCO surges on planning to invest Rs 30,000 crore on expansion, diversification over next 7-8 years

NALCO surges on planning to invest Rs 30,000 crore on expansion, diversification over next 7-8 years

National Aluminium Company is currently trading at Rs. 49.40, up by 1.30 points or 2.70% from its previous closing of Rs. 48.10 on the BSE.

The scrip opened at Rs. 48.70 and has touched a high and low of Rs. 49.50 and Rs. 48.70 respectively. So far 48893 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 5 has touched a 52 week high of Rs. 49.75 on 08-Jan-2021 and a 52 week low of Rs. 24.45 on 13-Mar-2020.

Last one week high and low of the scrip stood at Rs. 49.75 and Rs. 45.00 respectively. The current market cap of the company is Rs. 8973.62 crore.

The promoters holding in the company stood at 51.50%, while Institutions and Non-Institutions held 17.13% and 31.37% respectively.

National Aluminium Company (NALCO) is planning to invest around Rs 30,000 crore over the next 7-8 years on its expansion and diversification. Of the proposed investment, Rs 22,000 crore will be spent on smelter and captive power plant (CPP) expansions, which also include expansion of the company’s smelter plant at Angul district in Odisha with construction of a 1400 MW feeder CPP.

Besides, the company will spend over Rs 7,000 crore on the 5th stream refinery, Pottangi bauxite mines, bauxite transportation system from south block & Utkal D & E coal mines. The company’s growth plans will contribute significantly to government’s self-reliance vision in terms of production and consumption of alumina and aluminium in the country.

NALCO has the largest integrated alumina-aluminium complex of Asia. Its integrated operations cover the entire aluminium production value chain.