Nalco share price: Buy National Aluminum Company, target price Rs 107: Yes Securities



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Yes Securities bought the call on National Aluminum Company with a target price of Rs 107. The current market price of National Aluminum Company is Rs 100.85.

The period given by the analyst is intra-day when the price of National Aluminum Company Ltd. can achieve the defined goal.

National Aluminum Company Ltd., incorporated in 1981, is a mid-cap company (with a market capitalization of Rs 18,531.61 Crore) operating in the metals sector – non-ferrous.

The main product / revenue segments of National Aluminum Company Ltd. include aluminum, alumina, other operating revenue and wind power for the year ending March 31, 2021.

Finance

For the quarter ended 30-09-2021, the company reported consolidated total income of Rs 3,634.59 crore, up 45.02% from last quarter total income of Rs 2,506.29 crore and up 51 , 50% compared to the total income for the same quarter of last year of Rs 2399.05 crore. The company reported net profit after tax of Rs 747.70 crore last quarter.


Justification of the investment
A rapid rally over the previous week and a hold above short term averages guarantees an immediate bottom close to Rs 98 for the stock. Positive follow-up action should bring the stock to the Rs 107 area.

Promoter / FII Holdings
Promoters held 51.28 percent of the company’s capital as of September 30, 2021, while FIIs held 15.22 percent and DIIs 10.33 percent.

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