Shares of National Aluminium Co Ltd (NALCO) plunged about 4 percent on Tuesday despite good earnings as investors feared that strong alumina prices, which boosted Q2 earnings, have now reversed and the company may have to to bear the brunt of lower alumina prices going ahead.

TK Chand, CMD of the company, spoke to CNBC-TV18 about the earnings and shared his outlook on alumina prices.

Chand said that alumina prices for last shipment was $488 per tonne and Q1 average alumina realisation was at $555 per tonne and Q2 was at $524 per tonne.

Talking about alumina prices, Chand said, “We expect the price to hover between $430 and $480 per tonne.”

On the numbers front, he said, “Overall in the year our EBITD margin will come around 28 percent.”

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