Nalco is the top gainer
By
Research Desk
about 10 years ago
Nalco has been the top gainer on the BSE right since the opening bell. The stock is up currently 5.5% at Rs.43, closer to its intra day high of Rs.43.65. Its 52-week high is at Rs.49.60.
This surge is in anticipation of the Board meeting scheduled for 25th May – the company has decided to buy back shares and this meet could probably divulge the price band proposed. The Board plans to buy back 25% stake and expects to raise Rs.3250 crore.
The Govt of India currently holds 80.93% stake in the company.
The company will declare its Q4 and FY16 numbers on 28th May. It has already announced an interim dividend of 25% for FY16.