Scratch the surface, market cap takes a hit of 29 percent in the past one year alone
The sharp slowdown in China’s industrial sector in May keeps the risk on for metal producers
The company earlier earned the distinction of being the lowest-cost producer of bauxite in the world in 2018.
Union Minister of Heavy Industries and Public Enterprises Arvind Sawant presented the award at the PSU Award ceremony held over the weekend in New Delhi.
Motilal Oswal is bullish on Nalco has recommended buy rating on the stock with a target price of Rs 50 in its research report dated August 13, 2019.
The standalone revenue from operations in the quarter declined to Rs 2,766.2 crore, compared with Rs 2,863.1 crore in the year-ago period, the filing said.
Norsk Hydro's Alunorte alumina refinery is finally allowed to function at full capacity. What this could mean for Indian aluminium companies
The Nalco stock have corrected in the recent past from a high of Rs 90 to Rs 54.4 and is currently trading at seven times its FY21 estimated earnings
Bauxite transportation has gone up to 72.31 lakh MT, which is also highest ever since inception.
"The board of directors of the company..have approved payment of interim dividend at the rate of Rs 4.50 per share on the paid-up equity share capital of Rs 932.81 crore for the financial year 2018-19," Nalco said in a regulatory filing.
When the global economy was reeling under economic slowdown, with the metal sector being affected the worst, NALCO took a conscious decision of introducing an all weather business model that focuses on benchmarking and quantification, chairman and managing director, Tapan Kumar Chand said.
Motilal Oswal is bullish on Nalco has recommended buy rating on the stock with a target price of Rs 69 in its research report dated February 09, 2019.
Over 300 stocks have hit fresh 52-week low on the BSE including names like NALCO, Indiabulls Housing Finance, Vedanta, Indian Bank, NTPC, IDBI Bank, JSW Steel, Tata Chemicals, Coal India and Balkrishna Industries.
The move could affect Indian aluminium companies
The breadth of the market favoured the declines with 742 stocks advancing and 858 declining while 459 remained unchanged. On the BSE, 969 stocks advanced, 993 declined and 95 remained unchanged.
The Central Public Sector Enterprises (CPSEs) that are part of the Bharat-22 ETF include ONGC, IOC, SBI, BPCL, Coal India and Nalco.
Last month, the company said its board has approved a proposal to buy back shares worth Rs 504.8 crore.
The company had clocked a net profit of Rs 234.63 crore during the same quarter a year ago
The proposal to buyback is not exceeding 6,73,11386 equity shares in cash for an aggregate consideration not exceeding Rs 504,83,53,950
Thanks to correction in markets, few PSUs have come out with the buy backs and they are worth a look
To meet the challenges of providing alternative solutions to the packaging industry, NALCO would set up the manufacturing unit in the coming days, Tapan Kumar Chand, CMD of the Navaratna CPSE, said.