NALCO's Capex Target for 2016-17 Is Rs 1,021 Crores

National Aluminium Company (NALCO) which is a public sector unit under the Ministry of Mines has set a capital expenditure (capex) of Rs 1,021 crores for the year 2016-17. This capex would be used for projects like development of Utkal D&E coal blocks, wind power projects of 50 MW each in Maharashtra and Rajasthan, addition of fifth stream in the existing alumina refinery at Damanjodi, Koraput, a 20 Mega Watt solar power project in the state of Madhya Pradesh along with other expansion and modernization activities.

NALCO has completed buyback of shares that was approved by its shareholders in July of 2016. After the buyback, the paid-up share capital of the company stands reduced to Rs 966.46 crores from Rs 1,288.62 crores.

NALCO is known to hold the largest integrated alumina-aluminium complex of Asia. The integrated operations of the Company cover the entire aluminium production value chain from mining bauxite, refining alumina, smelting aluminium as well as captive power generation to a strong logistic network in terms of rail and port facilities, coal mining and handling plant to support its operations and to become one of the most cost-efficient aluminium companies across the world.

With this new developmental plan in hand, NALCO share price rose by around 3 per cent intraday. A total of 17,29,850 shares of the have been traded on NSE today aggregating to a total amount of Rs 823.93 lacs. The share price is currently trading at Rs 47.30, up by 2.16 per cent. The 52 week high of the share is Rs 51.35 made on 13th July 2016 and the 52 week low of the same is Rs 29.30 made on 12th February 2016.

National Aluminium Company Limited also abbreviated as NALCO, (incorporated 1981) has units in Odisha at places like Angul as well as Damanjodi. It was incorporated as a public sector enterprise of the Ministry of Mines, Government of India in 1981.

NALCO is one of the top 500 shares recommended by Dynamic Levels research analyst. Get the historical share price performance of the Company at NALCO share price history.