(Image: istcok/ET Now News)Sanjiv Bhasin Top Pick, BUY: Share Market expert and ET Now panelist Sanjiv Bhasin remains bullish on the flagship Navratna CPSE under the Ministry of Mines, Govt.
of India, and the country's leading manufacturer and exporter of alumina and aluminium, National Aluminium Company Limited (NALCO) stock.
The company’s revenue from operations advanced 6.9 per cent year-on-year to Rs 3,579 crore in Q4FY24 from Rs 3,348 crore reported in Q4FY23.
Sanjiv Bhasin on NALCOVeteran market guru Bhasin has called NALCO his top pick and said that the company's Q4 results have been quite impressive.
Veteran market guru Bhasin has recommended a Buy on Dips for NMDC stock.
Authored by : Kumar Gaurav Updated Jun 1, 2024 | 04:46 PM IST Shares of the state-run company have emerged as a multibagger over the span of 6 months, with a sprint of 108.18 per cent during the said period. (Image: istcok/ET Now News)
Sanjiv Bhasin Top Pick, BUY: Share Market expert and ET Now panelist Sanjiv Bhasin remains bullish on the flagship Navratna CPSE under the Ministry of Mines, Govt. of India, and the country's leading manufacturer and exporter of alumina and aluminium, National Aluminium Company Limited (NALCO) stock. NALCO is a Schedule ‘A’ Navratna CPSE established on 7th January 1981, with its registered office in Bhubaneswar. It is one of the largest integrated Bauxite-Alumina-Aluminium-Power Complexes in the country. At present, the Government of India holds 51.28 per cent of the paid-up equity capital.
NALCO Q4 2024 Results
NALCO’s consolidated profit after tax (PAT) climbed 108 per cent year-on-year to Rs 1,016 crore in the quarter under review, as against Rs 488 crore reported in the corresponding quarter of FY23.
The company’s revenue from operations advanced 6.9 per cent year-on-year to Rs 3,579 crore in Q4FY24 from Rs 3,348 crore reported in Q4FY23.
NALCO’s EBITDA witnessed a surge of 43.1 per cent year-on-year to Rs 1,108 crore in the quarter under review, as against Rs 774 crore reported in the corresponding quarter of FY23.
Sanjiv Bhasin on NALCO
Veteran market guru Bhasin has called NALCO his top pick and said that the company's Q4 results have been quite impressive. The market guru stated that NALCO and NMDC are companies that extract things from the ground, and there is no other company in the world that does this, so their profit is bound to increase. The market expert further said that NALCO will be an outperformer in the remaining months of this year, with a share price target of Rs 240 to Rs 250.
Veteran market guru Bhasin has recommended a Buy on Dips for NMDC stock.
NALCO Share Price History
The state-run company is a constituent of the BSE 250 SmallCap Index on the BSE. According to BSE analytics, the PSU stock has advanced 3.37 per cent in the last month and 22.95 per cent in the last three months.
Shares of the state-run company have emerged as a multibagger over the span of 6 months, with a sprint of 108.18 per cent during the said period.
NALCO shares have rallied 128.58 per cent in the last year and 279.31 per cent in the last five years, as per BSE data.
Shares of NALCO have a 52-week range of Rs 206.30 - 80.70 on the BSE.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)
