NALCO shares in focus on signing mining lease deed for amalgamated coal blocks

Shares of National Aluminium (NALCO) are likely to remain in focus in today’s session as the company announced that it has signed a mining lease deed for amalgamated Utkal-D and Utkal E-Coal block to enhance coal production capacity to 4 MTPA.

“We would like to inform that, the Mining Lease deed for amalgamated Utkal-D and Utkal-E Coal Block was signed with District Collector, Angul today i.e. the 24th December, 2024 in presence Shri N. S. Subrahmanyam, EPO-ED(S&P) and Shri S. S. Patra, GGM(Coal Mines) to enhance the coal production capacity of NALCO to 4.0 MTPA which will boost fuel security to the Captive Power Plant,” said the company in its filing to the stock exchanges.

The said lease deed is valid upto 21st April, 2051.


A mining lease deed is a legal document that grants the leaseholder the right to explore, extract, and process minerals or other natural resources from a specific piece of land for a defined period.

It is a binding agreement between the lessor (usually the government or landowner) and the lessee (the mining company or individual).

Also read: Most Asian stocks rise amid thin holiday trading

The shares of NALCO have increased by 85.5% in the last one year and by nearly 57% in the current calendar year so far. However, in the last 1 month, NALCO stock has fallen by 16.85% and by 14.65% in the last 2 weeks.

On charts, the stock is currently placed below its 10, 20, 50 and 100-day exponential moving averages (DEMA), but is still above the 200 DEMA. On the relative strength indicator (RSI), the shares are hovering near the 34 level, which is a mid-level range on the indicator.

NALCO shares closed 1.8% lower at Rs 213.60 on the BSE on Tuesday.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)