India’s leading aluminium producer National Aluminium Company (NALCO) has seen a strong response to their offer for sale (OFS) with the non-retail segment seeing a subscription of 1.84 times and the government has decided to retain full over subscription under the greenshoe option.
In a recent interview, TK Chand, CMD of NALCO spoke about the latest happenings in his company and sector.
TK Chand said, he expects aluminium price to move between USD 1870 and USD 1950 in FY18.
Speaking about recent price increases in the aluminium sector, he said, “In Q4 our margins have significantly improved, so volume and price benefits have come into the company”.
On OFS, Chand said, “We have offered 5 per cent firm and 5 per cent optional and maybe the offer will be up to 9.2 around, a little less than 10 per cent.”
“We are expecting very good margin from aluminium segment”, Chand further added. The veteran said he is expecting aluminium price to move between US$1870 and US$1950, in a band of around US$80-90.