The Economic Times
Nalco shares rise 4 per cent as government considers stake sale
Edited by : AL CIRCLE
1 min read
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 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.
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 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.
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