Nalco slumps after posting poor Q2 results

National Aluminium Company slumped 7.4% to Rs 61.30 at 14:10 IST on BSE after net profit dropped 51.67% to Rs 121.23 crore on 4.47% decline in total income to Rs 1982.92 crore in Q2 September 2016 over Q2 September 2015.

The result was announced after market hours yesterday, 14 December 2016.

Meanwhile, the S&P BSE Sensex was up 49.06 points or 0.18% at 26,651.90.

More than usual volumes were witnessed on the counter. On the BSE, 6.95 lakh shares were traded in the counter so far as against average daily volume of 4.62 lakh shares in the past one quarter. The stock had hit a high of Rs 63.85 and a low of Rs 60.35 so far during the day. The stock had hit a 52-week low of Rs 29.75 on 12 February 2016. The stock had hit a 52-week high of Rs 72.45 on 8 December 2016.

The stock had outperformed the market over the past one month till 14 December 2016, gaining 30.31% compared with the Sensex's 0.81% fall. The scrip had also outperformed the market in past one quarter, rising 43.29% as against the Sensex's 6.24% fall.

The large-cap company has equity capital of Rs 966.46 crore. Face value per share is Rs 5.

State-run National Aluminium Company (Nalco) has integrated and diversified operations in mining, metal and power. The Government of India (GoI) held 74.58% stake in the company (as per the shareholding pattern as on 30 September 2016).

Powered by Capital Market - Live News