Tata Iron & Steel Company (Tics) may not be able to realise its plans of vying for the stake in the National Aluminium Company [Nalco]. This is because Kumarmangalam Birla the chairman of Hindalco Industries, one of the bidders for Nalco, is also a non-executive member on the board of Tisco which may result in a conflict between the two companies. Though a way out of this deadlock is that Tisco and Hindalco jointly bid for stake in Nalco, as of now there are no indications in this direction. Tisco's interest in aluminium can also be seen in the strategic light given that international steel giant Lakshmi N Mittal-controlled LNM Holdings is also eyeing Nalco to make an entry in Indian metal business. LNM Holdings is reportedly talking to Sterlite group for a possible joint bidding.
NSTL
