The Indian metal market is a promising sector to invest in as it provides a good balance between the prospects of growth and stability in dynamic economic conditions and a changing geopolitical environment. Metals such as gold, silver, copper, etc, have gained renewed significance in 2025, amidst growing inflation and India's push towards infrastructural growth and green energy initiatives.
The Indian metal market is a promising sector to invest in as it provides a good balance between the prospects of growth and stability in dynamic economic conditions and a changing geopolitical environment. Metals such as gold, silver, copper, etc, have gained renewed significance in 2025, amidst growing inflation and India's push towards infrastructural growth and green energy initiatives.
State-owned aluminium maker Nalco may show interest in developing mines in Afghanistan, which is expected to invite global bids soon for exploration of mineral deposits estimated to be worth $1 trillion.
National Aluminium Company (Nalco) has chalked out plans to enter the power business through the special purpose vehicle (SPV) route. The company plans to produce over 2000 MW by 2016.
The floor or the minimum offer price for Nalco's share sale has been set at Rs 40 apiece, which was a 10 per cent discount to Thursday's close of Rs 44.65.
The government on Friday ruled out any divestment in the aluminum major Nalco. "There is no plan to divest government's stake in Nalco," Sis Ram Ola, Minister of Mines.
The company also has plans to set up a 1.4 million tonnes per annum alumina refinery in Andhra Pradesh.
The government on Thursday said divestment in Nalco was not being pursued at the current juncture although it had earlier decided in 2001 to sell equity through domestic and overseas public offer and strategic sale.
Company looking for acquisition of coal properties abroad.
NALCO may invest Rs 700 crore in two mines of Hindustan Copper
The government at present holds 87.15 per cent stake in the navratna firm.
C Venkatramana, chairman and managing director, National Aluminium Corporation (Nalco), was on Wednesday arrested in a molestation case.
The finance ministry's proposal to off-load a small part of the government equity in National Aluminium Company Ltd has been rejected by the administrative ministry.
National Aluminium Company Ltd has won the Engineering Export Promotion Council's All India Export award in the "star performer" category for 2005-06, the firm said on Friday.
Preliminary investigations suggest that financial disputes may have triggered the fatal confrontation.
The government is believed to have decided to put on hold divestment of aluminium firm Nalco in view of opposition from both within the Centre and Orissa leadership, besides its employees.
India's second-largest aluminium maker National Aluminium Company Ltd will take more time to complete an expansion of its smelter due to a delay in the arrival of some machines and equipments, a top industry source said on Wednesday.
In latest move, ministry of mines removes B L Bagra
On the third day of his Orissa tour on Sunday, Congress general secretary Rahul Gandhi visited a NALCO plant in Angul in Orissa and spent time with workers and their families, listening to their demands. Rahul, who visited the PSU aluminium manufacturing unit, which was on the verge of privatisation during the NDA regime, received a grand welcome.
The details of the project are yet to be worked out by the two companies.
In a setback to NALCO and Hindustan Lever Ltd, a tax tribunal has quashed their plea challenging the government's decision to impose anti-dumping duty on imports of caustic soda.
Mines Minister B K Handique said that his ministry is not in favour of any further equity dilution in the navratna PSU.
The National Aluminium Company (Nalco), India's second largest producer of the base metal, avoided a production cut by offering discounts to its key clients that helped it boost sales and trim rising inventory.
The government on Thursday decided to sell 10 per cent shares in Nalco and Neyveli Lignite Corporation.
The mines ministry has put a conditional offer to offload 10 per cent stake in Nalco, saying that the money accrued from such a sale would be invested in the PSU.
The agency also filed a charge sheet before special CBI Judge Sanjeev Jain at Patiala House Court for offences under the Prevention of Corruption Act against the accused.
National Alluminium Company is actively exploring the possibility of setting up a joint venture project in the Middle-East, officials said on Saturday.\n\n
Market remains extremely volatile before budget.
The policies of the Indonesian government and a volatile political situation in Iran are keeping the aluminium major from setting up its plants entailing an estimated investment of over Rs 20,000 crore (Rs 200 billion), NALCO CMD C R Pradhan told PTI during his recent visit to Kolkata. Nalco was aiming to ramp up its production capacity to 2,10,000 tonnes per annum for the current fiscal. In 2010-11, the capacity would be scaled up to 2,60,000 tonnes.
In the wake of renewed threats from the unions to stall the proposed public offering of shares, the government is reworking its strategy to go ahead with the divestment of National Aluminium Company.\n\n\n\n
Even as aluminium maker Nalco plans to restart operations at its Panchpatmali bauxite mines in Koraput district on Thursday, the employees stay too scared to go back to work.
Indian Divestment Minister Arun Shourie said on Friday that he expected to partly complete the asset sale in National Aluminium Co, the nation's second largest aluminium maker, by November.\n\n\n\n
Currently, the company is running alumina refinery at half its capacity and may be forced to shut down the unit in a few days if the situation does not improve.
Production of finished aluminium in National Aluminium Company Limited's smelter plant at Orissa's Angul stopped on Friday with its employees going on a strike, protesting the Centre's decision to divest 10 per cent stake of the company.
The mines ministry has sought Prime Minister Manmohan Singh's intervention in bailing out aluminium giant Nalco of the acute paucity of coal, which has forced the PSU to close down two of its captive power plants.
Nalco plans to export aluminium valued at over Rs 2,000 crore to China during the current fiscal, even as the industry is making efforts to boost domestic consumption, C Venkataramana, chairman and managing director, Nalco, said in Bangalore.
Corporate margins and profits in India remain vulnerable to changes in crude oil prices in the international market. Historical quarterly data from listed companies (excluding banks, finance and insurance, oil and gas, and power sectors) indicate an adverse correlation between corporate margins and crude oil prices.
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