Nalco National Aluminium Company

Technically, probability of metal stocks entering a negative trend remains negligible. A resilient bullish trend seems clearly visible in Tata Steel and Vedanta.

The company had posted a consolidated profit of Rs 347.48 crore in the year-ago period, Nalco said in a regulatory filing.

The company's consolidated income during the January-March period increased to Rs 4,492.10 crore as against Rs 2,874.47 crore a year ago, the filing said.

CPI general secretary D Raja has written to Prime Minister Narendra Modi requesting him to roll back the government's decision to privatise aluminium major NALCO.

Most metal stocks are trading at their record highs and showing no sign of slowing down

After intermittent disruption in coal despatches due to sporadic stirs at mines under the command area of Mahanadi Coalfields Ltd, supply position improved substantially post monsoons

Nalco despite being an integrated player was negatively impacted from fragile alumina prices

The company had moved away from long-term deals with major buyers and began risking its surplus in the international spot markets, selling over 95% of its exportable alumina here

The firm is mandated to scout for and secure 12 mineral assets in which the country lacks ample reserves and has to bank on imports

Coal mining to take off in 2020, Pottangi bauxite mine to go on stream in 2023

Though Nalco has charted a new business model to make it immune to vagaries of the metal business, the plans may to take 2-3 years to deliver outcomes

At the bourses, shares of Nalco have underperfomed market by falling 32 per cent year-to-date (YTD) while the benchmark Nifty50 index has remained flat, down 0.20 per cent.

Achievements give motivation and purpose gives objectivity to any organization, the Nalco chairman said

The navratna company has launched and successfully implemented several apps

Italian Consul General in India stressed on an improvement of bilateral relations between India and Italy

Company to form JV with MECL, HCL for overseas mineral hunt

Firm to tie up with Idco for unique project involving direct supply to downstream units

The stock dipped 7% to Rs 68.30 on BSE in early morning trade.