Nalco gains on disinvestment buzz
National Aluminium Company (Nalco) is trading higher by 4% at Rs 55.50 on reports that the government, which presently holds 87.15% stake in the company, is considering the sale of 10% of its stake in the state-run aluminium producer.
“The draft proposal for divestment in Nalco, was sent to various ministries for their comments, and a response is pending from the ministry overseeing the mining industry," the report suggests.
The stock opened at Rs 54.10 and touched high of Rs 55.70 on the National Stock Exchange. As many as a combined 662,402 shares have changed hands on the counter so far, against an average sub 625,000 shares that were traded daily in past two weeks.