Nalco drops after weak Q1 outcome

National Aluminium Company lost 3.44% to Rs 26.65 at 12:35 IST on BSE after net profit fell 28.4% to Rs 159.70 crore on 10.6% decline in net sales to Rs 1536.54 crore in Q1 June 2013 over Q1 June 2012.

The Q1 result was announced after market hours on Wednesday, 14 August 2013. The stock market was closed on Thursday, 15 August 2013 on account of Independence Day.

Meanwhile, the S&P BSE Sensex was down 472.82 points or 2.44% at 18,894.77.

On BSE, 47,000 shares were traded in the counter as against average daily volume of 77,763 shares in the past one quarter.

The stock hit a high of Rs 27.40 and a low of Rs 26.10 so far during the day. The stock had hit a 52-week low of Rs 24.10 on 6 August 2013. The stock had hit 52-week high of Rs 59.40 on 17 September 2012.

The stock had underperformed the market over the past one month till 14 August 2013, sliding 6.91% compared with the Sensex's 2.96% fall. The scrip had also underperformed the market in past one quarter, tumbling 23.23% as against Sensex's 1.8% fall.

The company has equity capital of Rs 1288.62 crore. Face value per share is Rs 5.

During the quarter, National Aluminium Company (Nalco) has partially commissioned the 46.7 megawatts (MW) wind power plant at Jaisalmer in Rajasthan.

State-run Nalco is an integrated aluminium maker, with its activities encompassing bauxite mining, alumina refining, aluminium smelting and casting, power generation, rail and port operations. The Government of India (GoI) holds 81.06% stake in Nalco (as per the shareholding pattern as on 30 June 2013).

Powered by Capital Market - Live News