Nalco shines after govt plans to expand capacity

National Aluminum Company gained 1.16% to Rs 65.35 at 9:40 IST on BSE after the Ministry of Mines said that the central government is working to expand capacity of the company to make it a major producer of aluminium globally. The Ministry of Mines made the announcement after market hours yesterday, 28 June 2017. Meanwhile, the S&P BSE Sensex was up 186.08 points or 0.6% at 31,024.39. On the BSE, 6,591 shares were traded on the counter so far as against the average daily volumes of 3.3 lakh shares in the past one quarter. The stock had hit a high of Rs 65.45 and a low of Rs 64.60 so far during the day. The stock had hit a 52-week high of Rs 79.85 on 7 March 2017 and a 52-week low of Rs 41.25 on 28 June 2016. Nifty Trading Tips

The stock has gained 6.08% in three sessions to its ruling price from a close of Rs 61.60 on 23 June 2017. The stock had underperformed the market over the past one month till 28 June 2017, falling 5.42% compared with 0.62% fall in the Sensex. The scrip had also underperformed the market in past one quarter, dropping 12.58% as against Sensex's 4.84% gains. The scrip, however, outperformed the market in past one year, gaining 55.29% as against Sensex's 16.25% gains. The large-cap company has equity capital of Rs 966.46 crore. Face value per share is Rs 5. The Ministry of Mines in order to clear any misleading information clarified that National Aluminum Company (Nalco) is a prestigious Navratna Central Public Sector Enterprise and the central government appreciates its role in the progress of the country as well as Odisha. Future & Option Trading Tips