India's NALCO gains on executing mining lease deed with Govt Of Odisha

National Aluminium

14/06/2024 07:08

** Shares of India's National Aluminium Co (NALCO)  NALU.NS 
rise 4.1% to 194.2 rupees
    ** Co said on Thursday it executed a mining lease deed with
state govt of Odisha over an area of 697.979 hectares for
bauxite mines
    ** Mine has an annual production capacity of 3.5 mln tonnes
and reserves estimated at 111 mln tonnes; expected to be
operational soon
    ** Stock trading above its 200-day simple moving avg since
April 2023
    ** Nine analysts covering the stock on avg have "hold"
rating; median PT is 165 rupees - LSEG data
    ** Stock up ~5% so far this week


 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))