closed at ₹238.30 on Monday, up ₹2.20 or 0.93 per cent, as the state-owned enterprise contests regulatory penalties imposed by stock exchanges.
The company has been fined ₹7.51 lakh each by and BSE for non-compliance with regulations regarding board composition during the quarter ended June 30, 2025. The penalties relate to violations of Regulations 17(1) and 18(1) of SEBI’s Listing Obligations and Disclosure Requirements, which mandate specific board composition standards including adequate independent directors.
In a letter dated October 24 to NSE, NALCO argued that as a Central Public Sector Enterprise, the appointment of directors rests solely with the President of India, leaving the company with no control over the matter. The board, in its September 25 meeting, resolved to seek waiver of the penalties, emphasising that the non-compliance was beyond its control.
NALCO has submitted a waiver application and continues to pursue the matter with the Ministry of Mines, its administrative ministry, requesting expedited appointment of the required number of independent directors to meet statutory requirements.
The stock traded in a range of ₹236.51 to ₹238.88 during the session, with traded volume reaching 56.46 lakh shares valued at ₹134.18 crore. The company’s total market capitalisation stands at ₹43,766.94 crore, with deliverable quantity accounting for 43.19 per cent of traded volume.