Nalco to invest Rs2,300 crore on expansion in FY13

The Odisha-based Nalco plans to invest Rs57,903 crore by 2020 mainly for setting up two aluminium smelters.

State-owned aluminium firm Nalco plans to invest Rs2,343 crore next fiscal, a 76% rise in capital expenditure over FY12, to increase capacity, according to 2012-13 budget documents.

Nalco is a disinvestment candidate for the government's Rs30,000 crore mop up target. It spent Rs1,333 crore this fiscal.

The budgeted outlay for the company in 2011-12 was Rs1,057 crore, but it was subsequently raised to Rs1,333 crore, the documents show.

The Odisha-based firm plans to invest Rs57,903 crore by 2020 mainly for setting up two aluminium smelters, a report of the Parliamentary Standing Committee on Coal and Steel had stated earlier.

The proposed outlay includes Rs16,500 crore for setting up a 5 million tonnes (MT) smelter in Indonesia, with 1,250 MW power plant. Another smelter of the same size would be built in Western Odisha in two phases, with 1,260 MW power plant at an estimated investment of Rs16,345 crore.

In the early afternoon, Nalco was trading at around Rs56.30 per share on the Bombay Stock Exchange, 0.54% up from the previous close.

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Tata Power's generation capacity crosses 5,000 MW mark

Tata Power's gross generation capacity has touched 5,297 MW, making it the largest private sector power generating company.

Tata Power has announced the successful synchronization of its second unit of 525 MW (Unit 2) of its Maithon mega power project in Dhanbad, Jharkhand under the requisite standard requirements. The first Unit of 525 MW (Unit 1) was commissioned in September 2011.

With this development, Tata Power's gross generation capacity has touched 5,297 MW, making it the largest private sector power generating company as well. The company is also one of the largest renewable players in the country with significant capacity in wind and solar. The company has current generation capacity of 4,447 MW under thermal and 850 MW under Non-GHS clean gen.

In the early afternoon, Tata Power was trading at around Rs102.30 per share on the Bombay Stock Exchange, 0.15% down from the previous close.

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Promoters hike stake in Hindustan Motors by 7%

Promoter group firms, Central India Industries, Amer Investments (Delhi), Bengal Rubber Co and Hindustan Discounting Co have together acquired 11.8 million shares of the company.

Hindustan Motors said four promoter group firms have increased their stake in the company to 32.19% by picking up an additional 6.82% through preferential allotment.

Promoter group firms, Central India Industries, Amer Investments (Delhi), Bengal Rubber Co and Hindustan Discounting Co have together acquired 11.8 million shares of the company on March 12, Hindustan Motors said in a filing to the BSE.

The mode of acquisition is through preferential allotment, it added.

In the early afternoon, Hindustan Motors was trading at around Rs11.30 per share on the Bombay Stock Exchange, 7.11% up from the previous close.

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