Government to split NALCO in three; stock surges
NALCO will aim at revenues of Rs 25,400 cr by FY20 and Rs 5440 cr annual net profit by FY20. Gainers: BSE ( A, B ), NSE | Losers: BSE ( A, B ), NSE I 52 Week: High, Low
By ET Bureau |
MUMBAI: Shares of public listed NALCO shot up after ET Now reported that the government plans to split the company into NALCO Aluminium, NALCO Power and NALCO International at an opportune time. (Watch)
According to the government, NALCO will aim at revenues of Rs 25,400 crore by FY 2020 and Rs 5440 crore annual net profit by FY20.
The company will also be aiming to sell at 1000 MW power by 2016.
While speaking to ET Now, B L Bagra, Director, Finance, NALCO, said that the demerger plan is part of company’s 2020 vision and will take 2-4 years.
The power and other metal companies will increase the turnover by 30-40 per cent. NALCO International will be an investment vehicle.
The company is planning to raise production of aluminium and aluminia going forward. Bagra added that merchant and nuclear power plants are at nascent stage.
At 12:50 pm, shares of NALCO were up 6.25 per cent at Rs 414 on the BSE. The stock has touched an intra-day high of Rs 418 in trade so far. Average traded volume stood at 342894 shares against two-week average of 23686 shares.
According to the government, NALCO will aim at revenues of Rs 25,400 crore by FY 2020 and Rs 5440 crore annual net profit by FY20.
The company will also be aiming to sell at 1000 MW power by 2016.
While speaking to ET Now, B L Bagra, Director, Finance, NALCO, said that the demerger plan is part of company’s 2020 vision and will take 2-4 years.
The power and other metal companies will increase the turnover by 30-40 per cent. NALCO International will be an investment vehicle.
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The company is planning to raise production of aluminium and aluminia going forward. Bagra added that merchant and nuclear power plants are at nascent stage.
At 12:50 pm, shares of NALCO were up 6.25 per cent at Rs 414 on the BSE. The stock has touched an intra-day high of Rs 418 in trade so far. Average traded volume stood at 342894 shares against two-week average of 23686 shares.
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