Nalco In Pact With Nsdl For Demat

The public sector National Aluminium Company (Nalco) has entered into an agreement with the National Security Depository Ltd (NSDL) for dematerialising its shares.

The move is expected to facilitate faster and efficient settlement of shares by eliminating paper-based trading. The new system envisages settlement of shares through dematerialisation process which will help the company avoid missing certificates in postal transit and manual handling and chances of bad delivery and forgery of certificates.

The switch-over to the new system comes at a time when the trading in the company's shares has gone up by four times over the last two years. While the number of certificates received for transfer was 10,000 per month in 1995, the number has risen to 40,000 per month in 1997.