Nalco Shares

National Aluminium Company Ltd is the first disinvestment of the current fiscal year, which started on April 1.

The two-day OFS began on bourses today with over 7.73 crore shares being sold to institutional investors. Over 1.93 crore have been reserved for retail investors who will also be offered additional discount over the issue price.

The Nifty has support at 8100, and if this level breaks, a sharp selloff towards 7800-7900 can be expected next, says Sumeet Bagadia of Choice Broking.

The government plans sale of 10 per cent stake each in Nalco, NMDC and MOIL, which could fetch about Rs 6,000 crore to the exchequer at the current market price.

SBI Capital Markets is acting as the manager for theoffer, it said a regulatory filing.

Shares of National Aluminium Company Limited (Nalco) surged nearly 6 per cent to hit intraday high of Rs 50.95 after the state-run aluminium producer secured the mining lease of a bauxite mine in Odisha.

Aluminium maker Nalco on Wednesday said its board has approved a proposal to buy back 64.43 crore shares worth close to Rs 2,835 crore, a move that will lead to liquidation of government's stake in the firm.

Nalco shares on Monday rose by nearly 3 per cent ahead of a meeting of the company's board on May 25 to discuss buy-back of the government's 25 per cent stake in the aluminium maker.

State-controlled National Aluminium Co Ltd (NALCO) has agreed to buy back 25 per cent of its shares from the government, Mines Secretary Balvinder Kumar told Reuters after a meeting with the company on Monday to discuss pricing.

State-run National Aluminium Company Limited (NALCO) on Monday declared an interim dividend of 25 per cent amounting to Rs 322.16 crore for 2015-16 on the paid-up equity share capital of Rs 1,288.62 crore.

Buy back of shares is taken positively by investors because it indicates management's faith in the company's business. Companies also buy their shares if they fell that the stock is undervalued, analysts say.

Nalco's estimated Rs 3,250-crore share buyback programme has been delayed due to procedural issues and will be completed in financial year 2016-17.

Indian aluminium company NALCO's plan to buy back up to Rs 3,250 crore ($483 million) of government shares will be delayed to the next fiscal year because of procedural delays, a government official said Tuesday.

UPL, Sun TV Network, MRPL, Jidal Steel, NALCO, Torrent Pharma, JSW Steel and Glenmark were among the losers from the mid-cap space, down 3-4.6 per cent each.

National Aluminium Company (Nalco) will soon send an official team to Iran to explore setting up a smelter complex worth about $2 billion, its boss said, as world powers lift sanctions on Iran that had made negotiations difficult.

National Aluminium Company Ltd is the first disinvestment of the current fiscal year, which started on April 1.

The two-day OFS began on bourses today with over 7.73 crore shares being sold to institutional investors. Over 1.93 crore have been reserved for retail investors who will also be offered additional discount over the issue price.

The Nifty has support at 8100, and if this level breaks, a sharp selloff towards 7800-7900 can be expected next, says Sumeet Bagadia of Choice Broking.

The government plans sale of 10 per cent stake each in Nalco, NMDC and MOIL, which could fetch about Rs 6,000 crore to the exchequer at the current market price.

SBI Capital Markets is acting as the manager for theoffer, it said a regulatory filing.

Shares of National Aluminium Company Limited (Nalco) surged nearly 6 per cent to hit intraday high of Rs 50.95 after the state-run aluminium producer secured the mining lease of a bauxite mine in Odisha.

Aluminium maker Nalco on Wednesday said its board has approved a proposal to buy back 64.43 crore shares worth close to Rs 2,835 crore, a move that will lead to liquidation of government's stake in the firm.

Nalco shares on Monday rose by nearly 3 per cent ahead of a meeting of the company's board on May 25 to discuss buy-back of the government's 25 per cent stake in the aluminium maker.

State-controlled National Aluminium Co Ltd (NALCO) has agreed to buy back 25 per cent of its shares from the government, Mines Secretary Balvinder Kumar told Reuters after a meeting with the company on Monday to discuss pricing.

State-run National Aluminium Company Limited (NALCO) on Monday declared an interim dividend of 25 per cent amounting to Rs 322.16 crore for 2015-16 on the paid-up equity share capital of Rs 1,288.62 crore.

Buy back of shares is taken positively by investors because it indicates management's faith in the company's business. Companies also buy their shares if they fell that the stock is undervalued, analysts say.

Nalco's estimated Rs 3,250-crore share buyback programme has been delayed due to procedural issues and will be completed in financial year 2016-17.

Indian aluminium company NALCO's plan to buy back up to Rs 3,250 crore ($483 million) of government shares will be delayed to the next fiscal year because of procedural delays, a government official said Tuesday.

UPL, Sun TV Network, MRPL, Jidal Steel, NALCO, Torrent Pharma, JSW Steel and Glenmark were among the losers from the mid-cap space, down 3-4.6 per cent each.

National Aluminium Company (Nalco) will soon send an official team to Iran to explore setting up a smelter complex worth about $2 billion, its boss said, as world powers lift sanctions on Iran that had made negotiations difficult.