Nalco’s Share Price increases by 68%

08/01/2017

Inauguration-of-37th-Foundation-Day-Celebrations

Signing-of-MoU-between-Nalco-and-Utkal-University

Bhubaneswar, 08/01/2017 : “Despite the vagaries of international market, Nalco’s consistent performance – both in terms of productivity and profitability is commendable.” said Shri Balvinder Kumar, IAS, Secretary, Ministry of Mines, Govt of India. He lauded the growth in production and increase in share price, which he said greatly enhanced the stakeholder value. He was addressing the 37 th Foundation Day Celebrations of the company, here yesterday. “Nalco’s efforts towards encouraging and promoting art, culture and sports of the State through various awards are also laudable. I congratulate CMD of the company and his team for this endeavour,” said Shri Kumar.
Dr. Tapan Kumar Chand, CMD, Nalco, in his welcome address, reiterated that the company is committed towards the development of Odisha and is also working in sync with the national development programmes. He highlighted the corporate journey of Nalco since inception and presented the new business model under implementation in Nalco. “In 2016 Nalco has posted strong growth of 18% in Bauxite mining, the highest since inception and a record in the mining industry. During the financial year 2016-17 Nalco will surpass its production capacity of 68.25 lakh tonnes and will achieve 73.25 lakh tonnes production,” Dr. Chand informed. “In stock market Nalco share price has registered increase of 68% from Rs. 40.20 in the beginning of the year 2016 to Rs. 67.60 as on date,” he added. Dr. Chand also said that the company, along with its efforts to achieve excellence in business, is focusing on the welfare of its stakeholders.
A host of awards presented by Nalco to achievers in different fields added a unique flavour. Nalco Smiles Award was presented to Shri Bhagirathi Panda, Secretary of Institute for Helping the Disabled, for his outstanding contributions towards the rehabilitation of differently-abled persons. Nalco Kharavela Award for Odissi Guru was received by Prof. Naba Kishore Mishra, for his significant contributions in promoting the dance form in India and abroad. The other Nalco Kharavela Awards for significant achievements in Odissi, were handed over to Ms Kshyanaprava Parida, Ms. Suhag Nalini Das and Shri Nityananda Das. Nalco Kalidas Award was handed over to Prof. (Dr.) Radhamadhab Dash, Vice-Chancellor of Shri Jagannath Sanskrit Vishwavidlaya, Puri, for his significant contributions in the field of teaching and propagating Sanskrit.
Nalco also honoured other achievers of Odisha for their contributions in different fields. Eminent literary personalities Dr. Ramakanta Rath, IAS, Dr. Pratibha Satapathy and Smt. Binapani Mohanty received Nalco Literary Award. Nalco Start-up Award was given away to Shri Srikumar Mishra, MD & CEO of Milk Mantra. Nalco Fine Arts Awards were handed over to BK College of Art & Crafts and sculptor Shri Sudarshan Sahoo. Nalco Sports Awards were received by Chess Player Shri Debasis Das, Athlete Shri Amiya Mallick and Scuba Diver Shri Sabir Bux. On this occasion, Nalco also recognized the efforts of three SBI officers Shri B.V.G. Reddy, CGM, Shri G.S. Behera, DGM and Smt. Smita Rath, CM, SBI Nalco Corporate Office Branch in promoting cashless transaction by honouring them with Nalco Digital Drive Awards.
An MoU between Nalco and Utkal University was signed to collaborate on some specific areas viz. R & D Projects, Baseline and impact Assessment Survey for CSR Projects and Industry Institution Interaction where Utkal University will be one of key Institutions, extend internship and Vocational Training to students of Utkal University and extend its support in Skill Development Training programmes for under privileged people of the state of Odisha. The MoU was signed by Dr. Ashok Kumar Das, Vice Chancellor of Utkal University and Shri B.K. Thakur, Director (HR) of Nalco.
Also, on the occasion, Nalco postage stamp was released by Shri Balvinder Kumar and Dr. Tapan Kumar Chand. The first issue of the quarterly magazine of Nalco Mahila Samiti ‘Sanginee’ was also released by the Shri Kumar, Dr. Chand and Smt. Preeti Roy, President of Nalco Mahila Samiti.

Shri B.K. Thakur, Director (HR), Nalco, proposed a vote of thanks.