SENSEX NIFTY
Nov 08, 2012, 01.51 PM IST | Source: Moneycontrol.com

Nalco shares unfazed by deferral of divestment date

Shares state-run National Aluminium Company (Nalco) were unmoved on Thursday, after the government decided to push back the decision on divesting its stake in the company to the January-March quarter.

Nalco shares unfazed by deferral of divestment date

Shares state-run National Aluminium Company (Nalco) were unmoved on Thursday, after the government decided to push back the decision on divesting its stake in the company to the January-March quarter.    

"It is not happening now. It will happen in the next quarter...After third quarter results we will decide," minister of state for mines Dinshaw Patel said, after a panel of ministers met to discuss the share sale. Some media reports had said the issue could be launched as early as this week.

The government plans to sell a 12.15 percent share sale in the company to restart a stalled divestment programme that is crucial to plug the government's widening fiscal deficit. At current market price, the Nalco sale could raise as much as USD 267 million.

The finance ministry's attempts to speed up disinvestment have not met with much success seven months into the year but the government is still hopeful of meeting the target. New Delhi aims to raise Rs 30,000 crore through share sale in state-run companies in the current fiscal year, that ends next March, but has thus far drawn a blank as weak market conditions have deterred public issues or auctions.

(With inputs from Reuters)

NALCO stock price

On August 22, 2014, National Aluminium Company closed at Rs 57.35, down Rs 0.5, or 0.86 percent. The 52-week high of the share was Rs 63.50 and the 52-week low was Rs 27.00.


The company's trailing 12-month (TTM) EPS was at Rs 2.92 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 19.64. The latest book value of the company is Rs 48.79 per share. At current value, the price-to-book value of the company is 1.18.

Set email alert for

ADS BY GOOGLE

video of the day

Go for midcaps in cement space, bullish BPCL, IOC: HDFC Sec

Explore Moneycontrol

Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.