The Hindu : Nalco to delist from regional stock exchanges

Online edition of India's National Newspaper
Saturday, Jul 05, 2003

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Business

Nalco to delist from regional stock exchanges

By Our Special Correspondent

VISAKHAPATNAM JULY 4. The National Aluminium Company Limited (Nalco) has decided to delist its shares from stock exchanges other than the Bombay Stock Exchange and the National Stock Exchange.

According to a communique from the Nalco headquarters, this decision was taken at the extraordinary general meeting of shareholders in Bhubaneswar on Friday.

The Nalco Chairman and Managing Director, C. Venkataramana, addressing the EGM, said the move was as per the guidelines of the Securities and Exchanges Board of India, allowing companies to withdraw from stock exchanges where the volume of trading in shares and debentures was either nil or negligible.

The CMD assured shareholders that the delisting would not affect the interests of the investors as BSE and NSE were linked to many cities for direct on-line trading.

Mr. Venkataramana detailed the company's performance during 2002-03 and said it posted a record sales turnover of Rs. 2,739.67 crores as compared to Rs. 2,385.42 crores in the previous year.

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