NALCO SHARES DELISTED FROM REGIONAL
EXCHANGES
The National
Aluminium Company Limited (NALCO), a public sector undertaking
of Mines Ministry has decided to delist the company’s securities
from the stock exchanges other than Bombay Stock Exchange (BSE)
and National Stock Exchange (NSE). This decision was taken today
at the extraordinary general meeting of the shareholders at the
Company’s headquarters at Bhubaneswar.
Addressing the meeting,
Shri C.Venkataramana, CMD, NALCO, said that this move has been
taken in terms of the SEBI guidelines allowing companies to withdraw
from stock exchanges where the trading volume of shares and debentures
is either nil or negligible. Shri Venkatarman said that the delisting
will not affect the interest of the investors as the BSE and NSE
are linked to many cities for direct online trading.
Highlighting the
performance of the company during 2002-03 Shri Venkataramana said
that the company posted a record sales turnover of Rs. 2739.67
crore compared to Rs. 2385.42 crore in the previous year. Similarly,
the company’s export turnover was at a new high at Rs. 1500.65
crore against Rs. 1205.32 crores in the previous year. The net
profit after tax at Rs. 520.92 crore was 27.25 per cent higher
than the previous year.
