Multibagger Aluminium PSU Set To Consider Results, Buy Recommended; TP Rs 198

Board of Director of multibagger public sector undertaking National Aluminium Co Ltd (NALCO) will hold meeting on May 27, 2024 to consider financial results for the quarter ended March 31, 2024. Current market price of National Aluminium Co Ltd share on BSE is Rs 179.10 per share with intraday gain of 1.22%. NALCO shares offered return of 94% in last 6-months and gained 119% in last 1-year. In last 2-weeks, National Aluminium Co Ltd shares declined by 3.35%. Life Insurance Corporation Of India - P & Gs Fund has 3.29% stake in NALCO with 60,418,752 shares of the company. More details below:

National Aluminium Co To Consider Results On May 27: According to the BSE filing of National Aluminium Co Ltd issued on May 14, 2024, "Pursuant to Regulation 29 and Regulation 33 of SEBI (LODR) Regulations, 2015, we would like to inform that a meeting of the Board of Directors of the Company will be held on Monday, the 27th May, 2024 to consider inter-alia the Audited (Standalone & Consolidated) Financial Results for the quarter and year ended 31.03.2024."

NALCO Share Performance & Return: The 52-week high price of NALCO share on BSE is Rs 193.00 per share (as on 29/04/2024) and 52-week low price is Rs 79.42 apiece (as on 25/05/2023). The company has a market capitalisation of Rs 33,408.33 crore. NALCO shares soared 32% year-to-date, gave return of 101% in last 2-years, zoomed 151% in last 3-years, and soared 267% in last 5-years. The PE of NALCO is 21.38.

Should You Buy NALCO Share? ICICI Direct has assigned buy call to NALCO share with target price of 198 and keep stop loss at Rs 177.00 per share. Prabhudas Lilladher has suggested sell call with target price of Rs 141 per share in its latest metal report. ICICI Direct said, Metal sector has been outperforming amid the recent market volatility. Within this sector National Aluminum gave a breakout from six-week consolidation and sustaining above the same indicating further upsides in coming sessions.

Meanwhile, out of a total of 10 analysts tracking the stock, 4 has recommended buy call for NALCO share, 2 assigned hold call, and remaining 4 suggested sell call.

NALCO Dividend History: NALCO announced 47 dividends since August 22, 2000. In last 1-year, NALCO announced an equity dividend amounting to Rs 4.00 per share. At the current share price of Rs 181.90, National Aluminium Company offers a dividend yield of 2.19%.

About: National Aluminium Company Limited (NALCO) is a Schedule 'A' Navratna CPSE established on 7th January, 1981 having its registered office at Bhubaneswar. It is one of the largest integrated Bauxite-Alumina-Aluminium- Power Complex in the Country. At present, Government of India holds 51.28% of paid up equity capital.

Disclaimer:

The stock has been picked from the brokerage report of ICICI Direct. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.