National Aluminium Company Limited has informed the Exchange about Rumour Verification - Regulation 30(11) Clarification under Regulation 30(11) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ( Listing Regulations ) on news article appearing in Mainstream Media.
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NALCO has issued a clarification in response to a news article in The Hindu Business Line that claimed the company has deferred its Rs. 30,000 crore brownfield smelter expansion capex and that its tie-up with Rio Tinto Canada has stalled. The company has firmly refuted these claims. NALCO clarified that the Rs. 30,000 crore capex for brownfield smelter expansion with captive power is progressing as per schedule. Discussions with technology partners, including RTAL, are actively being pursued and are on track. The detailed project report (DPR) is being updated to incorporate the latest business requirements, and any potential JV with partners will be firmed up after DPR finalization.
This is a positive clarification for shareholders, as it addresses potentially damaging market rumours and confirms that the company's major expansion plans remain on track. Such clarifications often help prevent unwarranted negative sentiment or stock price pressure caused by speculative media reports.