Shares of National Aluminium Company Limited (NALCO) surged by over 3% on Monday after Emkay Global Financial Services initiated a ‘Buy’ rating on the stock. The brokerage set a target price of ₹275, up from the current market price of ₹222.10, signaling confidence in NALCO’s growth potential.
Emkay’s analysis on the metals and mining sector highlights NALCO as one of its top picks. The brokerage believes that the market is currently underestimating NALCO’s earnings potential and its project deliveries. Emkay anticipates that as the company continues to perform and deliver on profitability, market sentiment will turn positive, leading to further stock gains.
At 9:39 AM on Monday, NALCO shares were trading 3.41% higher at ₹230.53 on the NSE. Investors are likely to continue monitoring the stock closely, especially with the optimistic outlook from Emkay and the broader positive sentiment in the metals sector.
The firm’s consistent performance and the strong ‘Buy’ rating from Emkay have placed NALCO in a favorable position, drawing the attention of both retail and institutional investors.
