Buy Nalco, target price Rs 100: Yes Securities

Yes Securities has buy call on National Aluminium Company Ltd. with a target price of Rs 100. The current market price of National Aluminium Company is Rs 92.95.

Time period given by analyst is Intra Day when National Aluminium Company Ltd. price can reach defined target.
National Aluminium Company Ltd., incorporated in the year 1981, is a Mid Cap company (having a market cap of Rs 17071.49 Crore) operating in Metals - Non Ferrous sector.


Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 2874.47 Crore, up 19.03 % from last quarter Total Income of Rs 2414.95 Crore and up 40.75 % from last year same quarter Total Income of Rs 2042.27 Crore. Company reported net profit after tax of Rs 935.64 Crore in latest quarter.

Investment Rationale
The stock has broken out of a trendline resistance on good volumes, triggering resumption of the uptrend. Further, RSI has also turned upwards above the 60 level, confirming bullishness.

Promoter/FII Holdings
Promoters held 51.3 per cent stake in the company as of March 31, 2021, while FIIs held 11.3 per cent, DIIs 14.2 per cent and public and others 23 per cent.