In an interview to CNBC-TV18, TK Chand, CMD of NALCO spoke about aluminium prices and the latest happenings in the company.
In an interview to CNBC-TV18, TK Chand, CMD of National Aluminium Company (NALCO) spoke about the continuous spike in the price of alumina.
The National Aluminium Company (NALCO) is on radar after aluminium prices hit multi-year highs while alumina prices too are on a roll. In an interview to CNBC-TV18, TK Chand, CMD of NALCO spoke about the price increase and latest happenings in the company.
Aluminium prices are up 20 percent year on year. In today’s Chinese gross domestic product (GDP) data, aluminium production numbers were up 7.4 percent in June which is believed to be a record. In an interview to CNBC-TV18, TK Chand, CMD at National Aluminium Company (NALCO) spoke about the same.
“We are expecting very good margin from aluminium segment”, TK Chand, CMD of NALCO told CNBC-TV18.
Nalco has cash reserve of Rs 3,000-3,500 crore, which will be used for domestic capacity expansion, said TK Chand, CMD of Nalco.
In an interview with CNBC-TV18, TK Chand, CMD of Nalco, talked about prevailing aluminium and alumina prices and the outlook ahead.
TK Chand of Nalco said that company has taken cost-cutting measures and is focussing on higher production levels.
In an interview to CNBC-TV18, NR Mohanty, CMD, Nalco said the company expects the total capacity of alumina production FY16 to be 21.8 lakh tonne.
Ansuman Das of Nalco expects the aluminium prices to hold above USD 2400 per tonne. Moreover, he thinks with the new government‘s focus on infrastructure development there demand for aluminum in India could be high.
According to Ansuman Das, the company will continue to keep its production at the current levels and have no plans for any further production cut. Nalco got its coal supply secured till 2018 by Coal India and is confident of giving aluminium output of around 350,000 tonnes for FY14.
In an interview to CNBC-TV18, BL Bagra, chairman and managing director, NALCO says, he expects the financial year to be better compared to the last year.
In an interview to CNBC-TV18, BL Bagra, director finance at NALCO says the new Mines and Minerals (Development and Regulation) MMRD Act is unlikely to hurt much, since the business environment it is likely to create, he says in due course of time it will make the company’s business proposition better.
Hindustan Copper has put off its follow-on public offering for the time-being. Speaking to CNBC-TV18, CMD of the company, Shakeel Ahmed said that improved financials were the reason behind the delay.