NALCO Sets Rs 7,100 Crore Revenue Target for the Year; Shares Rise
Nalco increases production targets for FY17. Sets revenue target at Rs 7,100 crore.
National Aluminium Company Ltd. shares rose as much as 2.5 percent to Rs 47.9 after the company signed a memorandum of understanding with the Ministry of Mines to raise its production targets for the year 2016-17.
The aluminium production target has been increased to 3.85 lakh tonnes compared to the 3.72 lakh tonne output in the previous year, the company informed the Bombay Stock Exchange. The annual alumina production target has been raised to 21.3 lakh tonnes from 19.53 lakh tonnes, the company added.
Financial Targets
The target for revenue from operations has been set at Rs 7,100 crore. The government-owned company set the capital expenditure target at Rs 1,021 crore, and said it will use the funds to develop wind power projects in Maharashtra and Rajasthan, and a solar power project in Madhya Pradesh, among other investments.