Ace Investor Rakesh Jhunjhunwala holds 2.5 Crore shares with holdings worth ₹ 246.5 Crores as per March 2022 data. This translates to a 1.5% stake. The share price of this company has dropped by 23.30% in the past month. The Jhunjhunwalas collectively held 5 crore shares or a 2.72% stake in the company till the quarter ended in December 2021.
The share price of National Aluminium Company Limited (NALCO) was trading at ₹124.45 levels a month ago. Their share price gradually declined to ₹ 95.30 apiece on Friday’s closing bell. The share’s 52-week high is at ₹ 132.70 and its 52-week low is at ₹ 65.05 apiece.
It was facing a coal supply shortfall since supplies were being diverted to priority electricity generation and a shortage of trains to deliver fuel to NALCO’s power plants and had stocks that would last only for four days.
About two weeks ago, India diverted coal supplies from the non-power sector, and put on hold plans for some fuel auctions, in a bid to ensure coal availability for utilities and tackle widespread power outages across the country.
Mahanadi Coalfields, a Coal India unit provides coal to NALCO and had suggested that it should prioritize moving coal via conveyor belts and trucks instead of using trains. However, NALCO disagreed because it was not possible to increase transport by road due to “logistical challenges”.
The company took the Coal Ministry, Mahanadi Coalfields and a unit of the Indian Railways to court over the supply shortfalls.
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