Govt. of India is looking to sell 10 percent stake in the state run Aluminium producing company NALCO (National Aluminium Company Ltd.) which could fetch the govt. around Rs.1400 crores at the current market price of Rs 55. As part of divestment program the govt. recently concluded auction of ONGC shares and has also launched NBCC IPO. NALCO is Asia's largest integrated aluminium complex, encompassing bauxite mining, alumina refining, aluminium smelting and casting, power generation, rail and port operations.
NALCO's total market cap, at the current market price of Rs.55, is about 14,200 crores and GOI holds around 87 percent in the company.
52 Week High / Low for the stock as on 27th March 2012 was 102 / 48
52 Week High / Low for the stock as on 27th March 2012 was 102 / 48
The recent auction of ONGC was a complete failure... don't know what will happen to the NALCO stake sale when the aluminium prices are falling...
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