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NALCO gains 4% as govt plans to divest over 12%

State-owned National Aluminium Company gained as much as 4.55 percent to touch an intraday high of Rs 51.65 on Wednesday as media reports suggest that the government is looking to divest a little more than 12 percent in the company in February, depending on the company's financial performance in the third quarter.

January 02, 2013 / 01:20 PM IST
 
 
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State-owned National Aluminium Company (NALCO) gained as much as 4.55 percent to touch an intraday high of Rs 51.65 on Wednesday as media reports suggest that the government is looking to divest a little more than 12 percent in the company in February, depending on the company's financial performance in the third quarter.


At 13:02 hours IST, the stock rose 3.74 percent to Rs 51.25 amid heavy volumes on the Bombay Stock Exchange.


Trading volumes increased 102 percent to 1,15,372 equity shares as compared to its five day average of 57,073 shares.


For the year ended March 31, 2012, the company reported net profit of Rs 849.50 crore on sales turnover of Rs 7,038.23 crore.

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first published: Jan 2, 2013 01:17 pm

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