After the shutdown of pots in Smelter Plant of Nalco due to acute shortage of coal , the company's shares dropped nearly 5 per cent on Thursday .The Nalco shares opened at Rs 40.40 against the last close of Rs 41.65 on the BSE and later dropped 4.68 per cent to Rs 39.7 apiece.
Today's low is mere 2.8 points above from the 52-week low of Rs 36.90, recorded on August 23, 2018.
As per market depth data on BSE, there was 53 per cent buying against 47 per cent selling in the stock.
In its BSE filing, the Nalco informed, "Short supply of coal has severely impacted aluminium production of Nalco and also the cost of power."
The Nalco's requirement of coal for its CPP at Angul is around 17,000 tonnes per day. Out of this, Nalco's CPP is receiving around 8,000 - 9,000 tonnes per day and there is a shortfall of around 7,000 - 8,000 tonnes.
As the coal supply position is not improving, the State-run aluminium manufacturer may be forced to further shut down up to 227 electrolytic pots in phases, depending upon the power generation in CPP, matching with coal receipt.
