LIC pares stake in National Aluminium Company
LIC has decreased its stake in NALCO to 4.61% from 6.66% held in the company.
Life Insurance Corporation of India (LIC) sold 3.76 crore equity shares or 2.05% stake of National Aluminium Company (NALCO) between 19 September 2018 to 31 May 2021.
Following the transaction, LIC has decreased its stake in NALCO to 4.61% from 6.66% held in the company. The deal was executed as a market sale.
On a consolidated basis, NALCO posted a net profit of Rs 239.71 crore in Q3 FY21 compared with net loss of Rs 33.90 crore in Q3 FY20. Net sales grew 13.9% to Rs 2,378.79 crore in Q3 FY21 as against Rs 2,088.35 crore in Q3 FY20.
NALCO is a Navratna group ‘A’ CPSE having integrated and diversified operations in mining, metal and power under Ministry of Mines, Government of India. As on 31 March 2021, the Government of India held 51.28% equity of NALCO.
Shares of NALCO were down 0.48% to Rs 72 on BSE. The strip traded in the range of Rs 71.70 to Rs 73.10 so far.
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