National Aluminium Company (NALCO) has seen a strong response to their offer for sale (OFS) with the non-retail segment seeing a subscription of 1.84 times and the government has decided to retain full over subscription under the greenshoe option.
In an interview to CNBC-TV18, TK Chand, CMD of NALCO spoke about the latest happenings in his company and sector.
He expects aluminium price to move between USD 1870 and USD 1950 in FY18.
Speaking about recent price increases in the aluminium sector, he said, "In Q4 our margins have significantly improved, so volume and price benefits have come into the company".
"We are expecting very good margin from aluminium segment", he further added.
Below is the verbatim transcript of the interview.
Latha: What can you update us on the OFS itself, the entire 10 percent is going to be divested?
A: We have offered 5 percent firm and 5 percent optional and maybe the offer will be upto 9.2 around, a little less than 10 percent.
Sonia: Our colleague was just telling us about the aluminium prices have been spiking up. Your assessment, what could be the average aluminium price for FY18?
A: We are expecting aluminium price to move between USD 1870 and USD 1950, in a band of around USD 80-90.
more to follow...
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