Nalco soars over 5% on good news galore 

National Aluminium Company (Nalco), one of the leading producers of bauxite and alumina hydrate, announced its February production data. The company is said to have posted highest ever bauxite production since its inception. It reported a rise of 16.8 per cent in bauxite production to 65.64 lakh tonnes up to February 2017. Alumina hydrate production came in at 17.7 lakh tonnes up to February 2017, registering 6.8 per cent YoY growth. This Navratna company posted 3.79 per cent growth in production of cast metal while aluminium metal sales increased 2.68 per cent. Considering this, the management has a positive outlook and expects 12 per cent growth in cast metal production in FY18.

Nalco has also cheered investors by declaring an interim dividend at Rs 2.8 per share on the face value of Rs 5 per share. The company’s board of directors approved dividend on paid up capital of Rs 966.46 crore.

The stock of Nalco zoomed with the announcement of dividend and closed 5.2 per cent up at Rs 72.25 on March 2, 2017. Moreover, the stock is likely to remain in the limelight for some more sessions on the back of its strong production data.