NALCO shares slump 3% on coal shortage affects aluminium production; company's power cost rises

New Delhi: Shares of NALCO plunged 3 percent on Thursday after the company said coal shortage has severely impacted its aluminium production. [caption id=“attachment_4191451” align=“alignleft” width=“380”] Representational image. Reuters.[/caption] Shares of the state-owned firm shed 3 percent to settle at Rs 40.40 apiece on the BSE. In early trade, it lost as much as 4.68 percent to touch intra-day low of Rs 39.70 apiece. On the NSE, the scrip declined 2.88 percent to close at Rs 40.50 apiece. In terms of traded volume, 1.96 crore shares were traded on the NSE, while 8.21 lakh shares were traded on the BSE. On Wednesday, the company said coal shortage has severely impacted its aluminium production. “Short supply of coal has severely impacted aluminium production of NALCO and also the cost of power, as the power purchased from the grid is costlier as compared to the power produced by NALCO at its CPP,” the PSU said in a statement.