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NALCO rises, 3% on new business plan announcement

Shares of National Aluminium Company (NALCO) were trading ~3% higher in Wednesday’s morning session after its recently appointed chairman unvieled a new business plan “NALCO:3-4-5” in a view to increase profit and revenue of the company.

“Addressing the Unions, Associations, members of Management and Employees of NALCO, Chairman Tapan Kumar Chand  unveiled a new business plan acronymed “NALC0:3-4-5″ that envisages increasing NALCO’s three-digit profit figure to four digits, and four-digit turnover to five digits,” the company said in a press note to the exchanges on Monday after market hours.

“The company expects its net turnover during FY19 to rise ~Rs12,000cr. As per the new plan, the company is expected to turn into a hardcore business organization with complete focus on business excellence,” NACLO said.Additionally, NACLO has announced an investment of Rs100cr under its CSR arm in the areas of healthcare, literacy, infrastructure, water management, and women empowerment in the Koraput district of Odisha.

National Aluminium Company share price is currently trading at Rs63.85, up by Rs1.8 or 2.9% from its previous closing of Rs62.05 on the BSE.

The scrip opened at Rs63 and has touched a high and low of Rs63.95 and Rs62.10, respectively. So far 25,52,763 (NSE+BSE) shares have been traded on the counter. The current market cap of the company is Rs11,993.82cr.

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