Nalco shares rally on reports govt to seek stake sale

Shares of National Aluminium Co Ltd surged as much as 5.5 percent on Thursday on media reports that the cabinet would meet on Friday to consider selling some of the government stake in five companies.

A newspaper reported the other four companies in which the government was looking to sell stakes besides Nalco were Hindustan Copper , Oil India , Neyveli Lignite , and MMTC , citing an unnamed government official privy to the developments.

Nalco shares were up 4.3 percent as of 0937 IST, while Hindustan Copper was up 2.3 percent, and Neyveli was up 2.9 percent.