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Nalco skids after poor Q2 results

Capital Market / 10:55 , Nov 14, 2011

National Aluminium Company lost 3.17% to Rs 58 at 10:53 IST on BSE after net profit dropped 37.8% to Rs 139.34 crore on 8.9% growth in net sales to Rs 1583.73 crore in Q2 September 2011 over Q2 September 2010.

The company declared the results on Saturday, 12 November 2011.

Meanwhile, the BSE Sensex was up 134.08 points, or 0.78% ot 17,326.90.

On BSE, 28,000 shares were traded in the counter as against average daily volume of 51,739 shares in the past one quarter.

The stock hit a high of Rs 59 and a low of Rs 57.50 so far during the day. The stock had hit a 52-week low of Rs 57.15 on 19 August 2011. The stock had hit a 52-week high of Rs 120.38 on 14 March 2011.

The stock had underperformed the market over the past one month till 11 November 2011, declining 3.23% compared with the Sensex's 3.97% return. The scrip had also underperformed the market in past one quarter, falling 9.45% as against 0.78% gain in the Sensex.

The large-cap state-run aluminium maker has equity capital of Rs 1288.62 crore. Face value per share is Rs 5.

National Aluminium Company, which is known by its acronym Nalco, manufactures and distributes aluminum products. Government of India holds 87.15% stake in the company (as on 30 September 2011).

 



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