NALCO’s stock hits 52-week high on record-breaking production of upstream aluminium

On Wednesday, April 3, National Aluminium Company’s stock price (NALCO) reached a 52-week high in the wake of highest-ever production of aluminium, record excavation of bauxite, and best ever metal sale, surpassing all previous records since inception.

According to the report, NALCO’s share price stood at INR 176.20 on BSE following the PSU’s FY2024 result announcement. The share price marked a jump of 6.05 per cent from the closing price of INR 166.15 on the previous day. On Wednesday, April 3, NALCO’s stock opened at INR 167.20.

The PSU’s stock traded higher by 4.91 per cent, or INR 8.15, at INR 174.30 at 11:57 am on Wednesday.

On Tuesday, April 2, NALCO announced that it achieved a record-breaking primary aluminium production of 4,63,428 tonnes, utilising its annual nameplate capacity of 4.6 lakh tonnes per annum, and the highest-ever bauxite excavation of 76,00,230 tonnes during the fiscal year 2024. This establishes India’s growing focus on bauxite mine exploration and aluminium production.  

To further enhance its production capacity at Angul, Odisha, the prestigious Navaratna Company recently inked a non-binding Memorandum of Understanding (MoU) with NTPC Limited, with the objective to explore various energy options such as coal-based thermal, solar photovoltaic, wind, other renewable energies, energy storage solutions, or any combination thereof. Through this agreement, NALCO aims to get 1200 MW of continuous, uninterrupted power to meet the requirement of its Angul smelter.