Companies

Nalco shares rise 4% as govt considers stake sale

PTI Mumbai | Updated on March 27, 2012 Published on March 27, 2012

Shares of country’s second largest aluminium producer, Nalco, gained about 4 per cent on the BSE, after the government today said it is actively considering disinvestment of 10 per cent stake in the PSU.

The company’s scrip settled for the day 3.92 per cent higher at Rs 55.70 on the BSE, valuing the company at Rs 14,355 crore. During the day, the stock jumped 4.47 per cent to Rs 56.

In terms of volume, about 2.14 lakh shares of the company changed hands on the BSE as compared to its two week average of 1.04 lakh shares.

“The disinvestment of 10 per cent Government of India shareholding in Nalco is under active consideration of the government,” Minister of State for Finance, Mr S S Palanimanickam, said in a written reply in the Rajya Sabha.

He added that the draft proposal in this regard has been sent to various ministries, including the Ministry of Mines, and replies are awaited.

Published on March 27, 2012
This article is closed for comments.
Please Email the Editor