National Aluminium Company plunged 9.12% to Rs 336 at 14:45 IST on BSE following reports the company formed a joint venture with Tata Africa to set up a $3 billion aluminium smelter and power plants in South Africa.
The stock hit a high of Rs 364.90 and a low of Rs 334 so far during the day. The stock had a 52-week high of Rs 565.90 on
The company has an equity capital of Rs 644.31 crore. Face value per share is Rs 10.
The current price of Rs 336 discounts its Q4 March 2008 annualised EPS of Rs 25.40, by a
PE multiple of 5.63.
As per recent reports, Tata Africa will hold 49% stake in the joint venture (JV) and the remaining 51% stake will held by National Aluminium Company (Nalco). Tata Africa will execute the project, reports added.
Tata Africa, the investment arm for Tata Group in
Recently, Nalco signed a memorandum of understanding (MoU) with the Indonesian government to set up a five-lakh tonnes smelter and 1250-megawatt power plant at an investment of Rs 14,000 crore.
Nalco’s net profit fell 30.8% to Rs 409.06 crore on 10.1% fall in net sales to Rs 1405.74 crore in Q4 March 2008 over Q4 March 2007.
Nalco manufactures and distributes aluminum products. Government of
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