NALCO - Current Affairs Questions and Answers

1)   Tapping PSU funds for short term disinvestment, government has asked which state run aluminium maker to buyback 25% of the shares for an estimated INR 3250 crore?

a. NALCO
b. BALCO
c. HINDALCO
d. None of the above
Answer  Explanation 

ANSWER: NALCO

Explanation:
Looking to tap PSU funds to create makeup for shortfall in disinvestment proceeds, government has asked state run aluminium maker NALCO to purchase 25% of the shares to gain estimated INR 3250 crore. NALCO board may consider the proposal and sources indicate government could raise above INR 3250 crore through sale of 25% of shares in NALCO.
2)   Aluminium major NALCO will invest INR 65,000 crore to launch projects and develop the power and mining sector. What record profit has this PSU attained in August 2015?

a. 50% increase in profit
b. 100% increase in profit
c. 105% increase in profit
d. 106% increase in profit
Answer  Explanation 

ANSWER: 106% increase in profit

Explanation:
Boosted by 106% increase in profit in 2014-2015, NALCO is set to make an investment of INR 65,000 crore to launch key projects and develop the power and mining sector. The company recorded a profit of Rs.1322 crore in 2014-2015 fiscal against Rs.642 crore during the 2013-2014. In the present fiscal, NALCO targets to raise its total metal sales to 3.80 lakh tonnes from 3.26 lakh tonnes during 2014-2015. Numerous projects will be carried out through these funds, including a green-field aluminium smelter abroad. The current CMD of NALCO is T. K. Chand. NALCO is proposing to set up smelter plants with investment of INR 20,000 crore and is exploring Oman, Iran and Indonesia for this purpose. Though power is cheap in Oman and Iran, abundant coal is available at low cost in Indonesia. Port facilities would also be a major factor, according to Chand.

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