Metals Sector

Hind Zinc aims to be Asia's biggest silver producer

NALCO asked for import duty on Chinese Aluminium

NALCOPublic sector major National Aluminium Co Ltd seeks 15 per cent import duty on Aluminum coming from China in order to save the interest of domestic industry, facing tough situation under the impact of global slowdown and recession like conditions across the world. Government has also expressed concerns over increase in aluminium import in recent times from China.

NALCO's chairman, C. R. Pradhan, said, "They may fix it at 10 percent, 15 percent or they may fix it higher. A 10-15 percent duty at present scenario will protect the prices
(from falling)."

Malco Q3 net loss at Rs 7 cr; promoter seeks to delist

Malco Q3 net loss at Rs 7 cr; promoter seeks to delistIt was today informed by Vedanta group firm Madras Aluminium Company that for the Q3 ended 31st December, the net loss of the company stood at Rs 7.13 crore, while it had a net profit of Rs 14.72 crore for the same quarter in the previous fiscal.

It was informed by the company that a proposal from the promoter, Twinstar Holdings has been received by its board, in which the former has offered to acquire the remaining 20 per cent stake in Malco, following which the shares of the firm would be delisted from the stock exchanges.