Shares of National Aluminium Rally Over 5% and Hit 52-Week High on Strong Business Updates

Today, the NALCO share price zoomed over 5.09%. Additionally, the stock hits a fresh 52-week high mark of Rs 176.20 apiece on BSE. Furthermore, the scrip witnessed a spurt in volume by more than 9.40 times. The company’s current market capitalization stands at Rs 32,067.59 crore.

Share Performance:

On Wednesday, the stock opened at Rs 167.20, with the previous closing being Rs 167.20. The 52-week high and low are Rs 176.20 and Rs 78, respectively.

Recent Development:

In FY 2023-24, NALCO achieved record-breaking operational milestones:

• Achieving the highest-ever Cast Metal production of 4,63,428 Metric Tonnes.
• Record-breaking Metal Sales of 4,70,108 Metric Tonnes, marking the highest-ever sales volume.
• Attaining the highest ever Bauxite Excavation of 76,00,230 Metric Tonnes, demonstrating significant operational efficiency.
• Successfully reaching the milestone of Development & Production at peak rated capacity of 2 million tonnes of Coal from Utkal-D coal block, showcasing remarkable progress in coal extraction operations.

Management comment:

On the occasion, Sridhar Patra, CMD, NALCO, said that the company has always striven to do better than the previous set benchmarks. Expressing his gratitude for significant achievements, he congratulated the NALCO collective and the stakeholders. Acknowledging the dedication and hard work of the employees and cooperation received from various stakeholders, he said that many major milestones have been achieved by way of backward integration and securitization of raw materials and energy in the past four years.

About the Company:

Established in 1981, National Aluminium Company Limited (NALCO) is a prominent manufacturer and distributor of Alumina and Aluminium products. NALCO stands as the flagship Navratna CPSE (Central Public Sector Enterprise) under the Ministry of Mines, Government of India.

Business development:

Product-wise Break-Up: Aluminum Products account for 62.2% of the total product value, while Chemicals make up 37.8%.

Location-wise Break-Up: In terms of geographical distribution, India constitutes 70.11% of the total market share, whereas the Rest of the World accounts for 29.89%.

Furthermore, the stock has experienced significant buying activity, yielding multibagger returns of more than 121% in the last one year.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. The information is based on various secondary sources on the internet and is subject to change. Please consult with a financial expert before making investment decisions.