Nalco surges on its Rs 1000 crore investment plan
National Aluminium Company (Nalco), the country’s second largest aluminium producer, is planning to invest about Rs 1,000 crore in future projects of state-run Nuclear Power Corporation of India (NPCIL).
The scrip is currently trading at Rs 376.20 per share, up 6.95 points or 1.88% on BSE.
The stock opened at Rs 374.50 as compared to its previous close of Rs 369.25. Intraday, the counter touched a high and a low of Rs 379 and Rs 373 respectively. So far 5,989 shares have been traded on BSE. The stock has touched its 52-week high of Rs 408 on December 4, 2009 and a 52-week low of Rs 171.50 on January 13, 2009.
The scrip has lost 0.62% since past one week and 3.77% since last one month. The two companies had last month entered into an agreement to team up with each other for setting up nuclear power plants in the country.
The company may invest in any of the NPCIL reactors coming at the five new locations in West Bengal, Gujarat, Andhra Pradesh, Haryana and Madhya Pradesh identified by the Government of India (GOI) or they may invest in projects presently under construction at Kaiga and Rajasthan.
NPCIL is developing 2,160 MW of projects at Kaiga, Kudankulam, Rajasthan and Kalpakkam to be operational in the next two-years.
NPCIL and Nalco are central public sector undertaking (PSU) under the administrative control of the Department of Atomic Energy (DAE) and Ministry of Mines respectively.
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