Nalco Share Price | This multibagger stock will run fast, brokerage told the target price – Hindi News
Nalco Share Price | The stock market closed with strong gains on Friday, September 20. The benchmark index closed with a gain of about 1.5 percent. In this bullish market, shares of the state-owned National Aluminum Company rose. Brokerage house Antique Broking is bullish on NALCO and recommends buying. The brokerage says that strong aluminum prices and low prices will increase the company's profits. ( NALCO Limited Company Excerpt )
Antique Broking has given a buy rating to NALCO. Also, the target price per share has been set at Rs 235. The stock price closed at Rs 183 on September 20, 2024. Thus, the stock is up about 30 percent from its current price. Investors' money in these shares has doubled in the last one year. During this period, the return has been around 95 percent. The stock is up 35% so far this year. On Tuesday (September 24, 2024), the stock was trading 6.07% higher at Rs 191.
What is the brokerage opinion?
The brokerage firm said that NALCO is one of the lowest priced bauxite and alumina producers and a leading exporter of alumina. The company sells 1.3 metric tonnes of alumina and 0.4 metric tonnes of aluminium annually. The production/sales volumes of the last three years show that it is operating at almost full capacity. The brokerage says that the average price of LME spot aluminium in the second quarter of FY2025 was $2,360 per tonne. It strengthened by 9.2 per cent year-on-year and fell by 6.6 per cent quarter-on-quarter. China's aluminium futures contract is currently at $566 per tonne. It rose 1.5 per cent. The company is in the process of merging Utkal D and E coal blocks. NALCO's growth outlook and net cash position are positive.
Disclaimer: Investment in mutual funds and stock market is based on risk. Before investing in the stock market, consult your financial advisor. tezzbuzz.com will not be responsible for any financial loss.
Comments are closed.