National Aluminium Company soars on executing mining lease deed with Government of Odisha
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National Aluminium Company is currently trading at Rs. 192.80, up by 6.30 points or 3.38% from its previous closing of Rs. 186.50 on the BSE.
The scrip opened at Rs. 189.45 and has touched a high and low of Rs. 193.60 and Rs. 188.70 respectively. So far 577360 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 206.30 on 28-May-2024 and a 52 week low of Rs. 80.70 on 26-Jun-2023.
Last one week high and low of the scrip stood at Rs. 193.60 and Rs. 181.60 respectively. The current market cap of the company is Rs. 35419.44 crore.
The promoters holding in the company stood at 51.28%, while Institutions and Non-Institutions held 27.80% and 20.92% respectively.
National Aluminium Company (NALCO) has executed a Mining Lease deed with the State Government of Odisha on June 13, 2024 over an area of 697.979 hectares for Bauxite Mines in Pottangi Tehsil, Koraput District. The mines has an annual production capacity of 3.5 million tonnes and has reserves estimated at 111 million tonnes, projecting a mine life of 32 years. Upon obtaining the remaining requisite statutory clearances, the mine is expected to become operational soon. The mined Bauxite would be transported to NALCO Refinery at Damanjodi through an Overland Conveyor of 18.5 Kms.
This strategic move ensures a secure supply of raw material for NALCO's existing Refinery and supports future expansions. With this enhanced resource base, NALCO is poised to strengthen its position in the Aluminum Industry, optimize production efficiency and meet the growing demand for Aluminum domestically and internationally.
National Aluminium Company (NALCO) has the largest integrated alumina-aluminium complex of Asia.
