Nalco stock hits 52-week high on high volume

 Shares of National Aluminium Company (NALCO) bucked the market trend on April 3, rising over 5 percent to a record high of Rs 176.25 on a volume surge.

So far in the day, 4 crore NALCO shares have changed hands on BSE and NSE combined, higher than 1-week and 1-month average trading volume of 1 crore and 2 crore shares, respectively.

The rally comes after the state-owned firm said it clocked the highest-ever cast metal production of 4.63 lakh metric tonnes in FY24.

NALCO also achieved the highest-ever Bauxite excavation of 76 lakh metric tonnes, and highest-ever metal sale of 4.70 lakh metric tonnes, surpassing all previous records since inception. In FY24, the company also added a new Aluminium Alloy Ingot (AL59) to its product range.

"Achieving 101.15 percent capacity utilization, NALCO’s Alumina Refinery has produced 21,24,000 Metric Tonnes of Alumina Hydrate, while the Captive Power Plant has generated a gross 7193.62 million units of power," NALCO said in a statement.

In FY24, the PSU developed and operationalised its Utkal D coal block and has also produced 2 million tonnes of Coal, which is the peak-rated capacity of the mine, according to the company.

NALCO, a Navratna CPSE, is one of the largest integrated Bauxite-Alumina-Aluminium- Power Complex in the country. At present, the government holds 51.28 percent of paid-up equity capital in the state-run firm.