It has signed a strategic alliance with the arm of global miner Rio Tinto for increasing its presence in India and abroad, NALCO said in a filing to the Bombay Stock Exchange. The agreement signed on Friday in Bhubaneswar, facilitates both companies to share information for identifying potential to create value for both the organisations, the filing added.
Aluminium ingots and sow will now cost about Rs 70,000 a tonne in the local market and wire rods and billets would be priced at around Rs 78,000-79,000 a tonne. After breaching the 52-mark against the dollar in intra-day during trade the last quarter the Indian rupee has appreciated to trade at 47 level to a dollar.
National Aluminium Company had said on Friday that its power units, capable of generating 960 MW, had to be shut down owing to serious coal crisis.
Industry observers were anticipating further divestment in the two public sector companies. The government has already divested about 13 per cent of its stake in aluminum producer Nalco and 0.41 per cent in the copper firm Hindustan Copper. Both, the companies are listed on the bourses.
The National Aluminium Company Ltd has earned a profit after tax of Rs 520.92 crore (Rs 5,209.2 million) during 2002-03, according to the company's chairman-cum-managing director C Venkataramana.
The government has received Rs 413 crore as dividend tranches from five CPSEs, including NLC and NALCO. "Government has received Rs 78 crore and Rs 165 crore respectively from Antariksh corp and NLC as dividend tranches," DIPAM secretary Tuhin Kanta Pandey tweeted.
India is working on new technologies such as the small modular reactors that can be factory-built and help make clean energy transition, Science and Technology Minister Jitendra Singh said in New Delhi.
The next auction for bauxite blocks in Odisha may see heightened interest with Adani Group charting an entry into alumina refining and existing players looking to boost capacity. Hemant Sharma, principal secretary, Odisha industries department, said that three bauxite blocks have been scheduled for auctions this year. Adani Group - which will be setting up a 4-MMTPA alumina refinery and may enter aluminium production - is expected to bid for mines, though raw material linkages shall be available from Odisha Mining Corporation (OMC).
Public sector blue chip firm National Aluminium Company, the largest manufacturer and exporter of aluminium in the country, proposes to make a foray into wind power generation.
The Bombay high court on Wednesday expressed dissatisfaction over the probe conducted by National Aluminium Corporation into the allegations of molestation of a female employee by its chairman-cum-managing director
C Venkataramana, chairman and managing director of public sector alluminium major Natioan Alluminium Company has gone on leave following registration of a first information report against him by Mumbai Police for allegedly molesting a woman colleague
The Bombay high court on Thursday stayed the departmental probe conducted by National Alluminium Corporation into allegations of molestation of a female employee by its chairman-cum-managing director.
National Aluminium Company Ltd, the largest alumina-aluminium producer and exporter of the country, has planned a Rs 4000-crore investment in capacity expansion.
They want the authorities to fulfill their security-related demands which include no duty in the mining area after sunset, increasing the number of security personnel and their presence in the workers' colony and in buses used to transport the workers. The operations have halted following a Naxalite attack on the site in which 10 CISF jawans and five Naxalites were killed. About 100 Nalco workers were held hostage by the ultras for over eight hours.
Currently, the public sector major has an inventory of 20,000 tonnes as against the usual level of 5,000 tonnes. Analysts expect the inventory to reach 25,000 tonnes by March-end. "We expect aluminium prices to remain below the cost of production for the next six to nine months," said Vipul Shah, an analyst with Mumbai-based brokerage K R Choksey Shares. "The outlook for aluminium is grim," he said.
The divestment of government holding in Bharat Petroleum Corporation and National Aluminium Company would be undertaken simultaneously in the Indian and American markets, according to Communications and Divestment Minister Arun Shourie.
A meeting of the board of directors of National Aluminium Company Ltd is scheduled to be held on January 30 to consider and take on record the unaudited financial results (provisional) for the three months ended December 31, 2002.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Centre's disinvestment policy Saturday came in for sharp criticism from some States with BJP ally Biju Janata Dal in Orissa going so far as to seek a separate National Democratic Alliance meeting on it.
Promoters have not proved they mean well for the community.
National Aluminium Company of India Ltd has posted a net profit of Rs 1276.70 million for the quarter ended December 31, 2002 as compared to a net profit of Rs 1101.90 million in the corresponding period last fiscal.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Govt seems to bullish to meet its disinvestment target in current fiscal.
Stocks of government probables for divestment or stake sale such as Steel Authority of India (SAIL), Mahanagar Telephone Nigam (MTNL), National Aluminium Company (Nalco) and Container Corporation (Concor) have outperformed the markets in the past one year.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Divestment in PFC, REC, NHPC, Nalco, Hindustan Copper and NMDC could be considered
The list mostly contains PSUs which were up for sale in the last fiscal.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
'I was very fortunate to have played at the Rio Olympics in 2016, India's first appearance in over three decades. As much as I wish to be part of the Indian team as they prepare for the Tokyo Olympics, my knee injuries have cut short my dream'
The government on Friday approved sale of its minority stakes in four public sector firms -- Hindustan Copper, Oil India, MMTC and Nalco-- to raise up to Rs 15,000 crore.
The MoUs are signed between the Central Public Sector Enterprises and the administrative ministries/departments.
The NSE 50-share index, after moving between 10,572.20 and 10,546.20, ended at 10,565.30, up 39.10 points, or 0.37 per cent.
Banks and exporters preferred to reduce their dollar position at the current stage in view of sustained capital inflows coupled with weakness in dollar overseas, forex dealers said.
While fuel costs have risen 20%, prices of finished output have fallen
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Keeping in view the ever-increasing energy requirement, India is all set to establish at least four nuclear reactors besides the world's first thorium-based reactor by 2020.
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