Stocks

Nalco rises on report of coal linkage extension

Reuters Mumbai | Updated on January 23, 2019 Published on January 23, 2019

National Aluminium Co Ltd shares rose up as much as 3.71 per cent to Rs 62.95, their highest since January 16.

The Standing Linkage Committee of the Ministry of Coal has recommended a three-year extension of bridge coal linkage for the company, according to a report.

The coal linkage is recommended by the committee considering the projected delays in captive mining from Nalco's Utkal-D and Utkal-E coal blocks, the report stated.

The stock has posted its biggest intra-day gain in six weeks. The stock was down 7.75 per cent this year as of its last close.

The company was not immediately available for a comment

Published on January 23, 2019
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