Nalco spurts as foreign brokerage initiates coverage with outperform rating

National Aluminium Company rose 6.46% to Rs 42.85 at 11:34 IST on BSE on reports a foreign brokerage has started its coverage with an outperform rating stating that the company is amongst the low cost alumina producers globally.

Meanwhile, the S&P BSE Sensex was down 261 points or 0.97% at 26,579.50.

On BSE, so far 5 lakh shares were traded in the counter as against average daily volume of 1.14 lakh shares in the past one quarter.

The stock hit a high of Rs 44.40 and a low of Rs 40.50 so far during the day. The stock had hit a 52-week low of Rs 40.10 yesterday, 10 June 2015. The stock had hit a 52-week high of Rs 68.80 on 19 September 2014.

The stock had underperformed the market over the past one month till 10 June 2015, sliding 17.1% compared with Sensex's 0.98% fall. The scrip had also underperformed the market in past one quarter, declining 17.94% as against Sensex's 6.51% fall.

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

Nalco's net profit rose 105.8% to Rs 354.87 crore on 0.2% decline in net sales to Rs 1778.46 crore in Q4 March 2015 over Q4 March 2014.

National Aluminium Company's (Nalco) is a Navratna CPSE under Ministry of Mines, Government of India. The company has integrated and diversified operations in mining, metal and power. Presently, Government of India holds 80.93% equity of Nalco.

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