Nalco surges on entering into MoU with BARC for R&D

State-run aluminium maker National Aluminium Company (Nalco) has entered into a memorandum of understanding (MoU) with Bhabha Atomic Research Centre (BARC), Mumbai, for Research and Development (R&D) in fields of mutual interest. Extraction of Gallium from Bayer Liquor will be NALCO's first R&D project with BARC with an objective to develop indigenous technology for this strategic metal.

The news perked up the sentiment on bourses. Nalco is currently trading at INR 42.90, up by 0.50 points or 1.18 per cent from its previous closing of INR 42.40 on the Bombay Stock Exchange (BSE).

The scrip opened at INR 42.60 and has touched a high and low of INR 43.40 and INR 42.60 respectively. So far 35709 shares were traded on the counter.

Last one week high and low of the scrip stood at INR 45.40 and INR 41.20 respectively. The current market cap of the company is INR 11056.35 crore. The promoters holding in the company stood at 80.93 per cent while Institutions and Non-Institutions held 12.15 per cent and 6.92 per cent respectively.

Nalco has the largest integrated alumina-aluminium complex of Asia. Its integrated operations cover the entire aluminium production value chain from mining bauxite, refining alumina, smelting aluminium, captive power generation to a strong logistic network in terms of rail & port facilities, coal mining and handling plant to support its operations and to become one of the most cost-efficient aluminium companies across the globe.

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