Unlike its peers who are reeling under pressure because of the high debt in their books, the government-owned aluminium major National Aluminium Company (Nalco) is a little relaxed due to the cash of over ₹5,300 crore in its books. If you do the math at today’s closing, it amounts to 60% of market cap. For the PSU with no immediate capex plan, cash in the books is a big cushion to counter the global down cycle in aluminium demand.
Taking the heat, comfortably
Cash-rich Nalco can sail through as it is among the lowest-cost players
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