Nalco has moved up smartly today on news that it has proposed to set up three hydro power projects with a combined capacity of 645 MW in locations identified by the state water resources department.
The three projects include Balijhori hydro-electric project (160 MW) in Keonjhar district, Barmul hydro-power project (200 MW) in Nayagarh district and Middle Kolab hydro-power project (285 MW) in Koraput district. Nalco currently operates 1200 MW Captive Power Plant (CPP) at Angul.
Meanwhile, Nalco has successfully completed two major brownfield expansion plans at an investment of Rs 7,800 crore.
Reports further suggest that the company has raised aluminium prices by Rs 2,000 per tonne.
The stock touched a high of Rs 65.30 and is now at Rs 64.90, up 2%. Around 38,000 shares have been traded on the BSE so far.
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