Incorporated in the year 1981, National Aluminium Company Ltd., is a Large Cap company (having a market cap of Rs 12535.04 Cr. as on 12th December 2016) which operates in the Metals - Non Ferrous sector. Intraday on Monday, Nalco share price is trading above 8 per cent at Rs. 70.10. The stock opened at Rs. 65.30 and touched the day’s high and low at Rs. 70.50 and Rs. 64.50 respectively. Nalco has planned to utilize the internal cash reserve of around Rs 3,500 crore in its ambitious domestic expansion plan and also anticipates clocking a higher business growth in the second half of this financial year with better demand environment.
Higher pricing of the metal would soon highlight in company's balance sheet. Nalco had previously drawn up an ambitious expansion plan at an investment Rs 37,000 crore for the coming 5-7 years, which included establishment of greenfield units abroad.
As a part of the company's domestic expansion plan, the company is looking for opportunities in order to set up a new unit at Angul in Odisha at an investment of Rs 12,000 crore.
Its plans also include setting up of a 1 million tonne per annum alumina refinery at Damanjodi in Odisha at an estimated cost of Rs 6,000 crore. Alumina is an intermediary product in aluminium production. Business is anticipated to improve in the second half of ongoing financial year in comparison to the first half. The company's capacity utilization remained at optimum levels.
Nalco share price touched its 52 week high value at Rs. 73.15 on 8th Dec ’16 whereas the 52 week low value is seen at Rs. 29.30 on 12th Feb ’16.
Nalco is a multibagger stock as identified by Dynamic Levels for this quarter.For further details on the stock, refer to Nalco share price history.
No comments:
Post a Comment