Nalco gains 2% on NPCIL order

The stock touched a high of Rs 350- up 2.6%. It finally ended up 2% at Rs 348. Around 93,684 shares were traded on the BSE today.
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(Updated at 1040 hrs)

National Aluminium Company (Nalco) has advanced in early trades on plans of a Rs 12,000-crore nuclear power plant set up.

The stock opened at Rs 348. It is now at the day's high of Rs 348 - up 2%. Around 26,587 shares were traded so far on the BSE.

The company is in talks with Nuclear Power Corporation of India (NPCIL) to jointly set up a Rs 12,000 crore nuclear power plant in south Orissa. Power accounts for nearly half of the input for aluminium making.

The proposed nuclear power plant would be the first nuclear plant in the country after the signing of the Indo-US nuclear deal. Prior to the signing of the nuclear deal, NPCIL had proposed to set up a mega nuclear power plant at Gopalpur, a beach resort town in south Orissa.