company news: NALCO board to meet for buyback plan

Shares of National Aluminium Company (NALCO) will remain in focus on Friday, as its board is meeting to consider a buyback proposal. Shareholders would be keen to know the size of the issue, if approved, and the buyback price. Besides, the mode of purchase by NALCO — whether through market purchase or on proportionate basis through tender route — as well as the record date, will be on shareholders’ radars. Currently, non-promoters hold 43.83 per cent stake in the PSU.