Nalco is the top gainer
By
Research Desk
about 9 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.