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Correction in Nalco an opportunity for investors

Improving alumina, aluminium volumes, realisation point to strong prospects

Ujjval Jauhari  |  New Delhi 

The government started its FY18 divestment process with up to 10 per cent stake sale in National Aluminium Company or Nalco, on Wednesday. With the floor price at Rs 67 compared to the stock’s closing of Rs 73 on Tuesday, the stock fell seven per cent. Though near-term pressure due to geo-political events could pressure base metal prices, longer-term outlook remains firm. And now, with divestment behind, the road ahead looks good. Nalco has seen strong turnaround in prospects, with base metal prices rallying on London Metal Exchange (LME) during 15 months. Tonne price of ...

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Correction in Nalco an opportunity for investors

Improving alumina, aluminium volumes, realisation point to strong prospects

The government kick-started its FY18 divestment process with up to 10 per cent stake sale in National Aluminium Company Limited or Nalco, on Wednesday. With the floor price set at Rs 67 a share compared to the stock's closing price of Rs 73.45 on Tuesday, it is not surprising that the stock Nalco fell seven per cent on the bourses. Moving forward, though near-term pressure due to geo-political events could put pressure on base metal prices, the longer-term outlook remains firm. And now, with divestment behind, the road ahead looks good for the company.Nalco has seen strong turnaround in its prospects with base metal prices rallying on the London Metal Exchange (LME) during the last 15 months. As per tonne prices of aluminium surged from sub-$1500 on the LME at the start of 2016 to about $1960 last month-end, Nalco's stock price has rallied from lows of Rs 31.6 to highs of Rs 79.85 during this period. Prices on alumina (a key ingredient to make aluminium), too, have improved and at ... The government started its FY18 divestment process with up to 10 per cent stake sale in National Aluminium Company or Nalco, on Wednesday. With the floor price at Rs 67 compared to the stock’s closing of Rs 73 on Tuesday, the stock fell seven per cent. Though near-term pressure due to geo-political events could pressure base metal prices, longer-term outlook remains firm. And now, with divestment behind, the road ahead looks good. Nalco has seen strong turnaround in prospects, with base metal prices rallying on London Metal Exchange (LME) during 15 months. Tonne price of ... image
Business Standard
177 22

Correction in Nalco an opportunity for investors

Improving alumina, aluminium volumes, realisation point to strong prospects

The government started its FY18 divestment process with up to 10 per cent stake sale in National Aluminium Company or Nalco, on Wednesday. With the floor price at Rs 67 compared to the stock’s closing of Rs 73 on Tuesday, the stock fell seven per cent. Though near-term pressure due to geo-political events could pressure base metal prices, longer-term outlook remains firm. And now, with divestment behind, the road ahead looks good. Nalco has seen strong turnaround in prospects, with base metal prices rallying on London Metal Exchange (LME) during 15 months. Tonne price of ...

image
Business Standard
177 22