National Aluminium gains on bagging Pottangi bauxite mines

National Aluminium Company (NALCO) was trading higher by 4% to Rs 50.10 on the BSE in an otherwise subdued market after the company announced that the government has granted Pottangi Bauxite Mines, in Koraput district of Odisha, where the company's 22,75,000-tonne alumina refinery is located.

 “As per a recent order issued by Department of Steel & Mines, Govt of Odisha, NALCO has been granted the mining lease of Pottangi with an area covering 1738 hectares for a period of 50 years,” NALCO said in a press release.

The stock hit an intra-day high of Rs 50.80 on the BSE so far. A combined 1.34 million equity shares changed hands on the counter on the BSE and NSE till 09:48 AM. The S&P BSE Sensex was up 0.02% at 27,819.

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