Shares of National Aluminium Company Limited (NALCO) surged by 6.76%, trading at ₹224.50 as of 12:21 PM today, following a positive report by Kotak. The stock opened at ₹214.50, reached an intraday high of ₹225.50, and touched a low of ₹212.80, significantly higher than the previous close of ₹210.29.
The rally in National Aluminium shares came after Kotak upgraded its stance on the stock, citing favorable market conditions in the alumina sector. The brokerage highlighted NALCO’s advantageous position in the ongoing alumina supply tightness, combined with a favorable tailwind in aluminium prices. Kotak Securities also pointed out the company’s successful commissioning of captive coal mines, which has helped reduce costs, and the expected expansion of NALCO’s alumina refinery.
Kotak raised its target price for NALCO, upgrading the stock from ‘sell’ to ‘add,’ signaling a positive outlook and attractive risk-reward potential.
Disclaimer: This article is for informational purposes only and should not be construed as financial advice.
