Buy National Aluminium Company, target price Rs 86.9 : ICICI Direct

ICICI Direct has buy call on National Aluminium Company with a target price of Rs 86.9. The current market price of National Aluminium Company is Rs 85.73. Time period given by analyst is Intra Day when National Aluminium Company price can reach defined target. ICICI Direct recommended to keep stoploss at Rs 84.6.

National Aluminium Company, incorporated in the year 1981, is a Mid Cap company (having a market cap of Rs 15547.09 Crore) operating in Metals - Non Ferrous sector.

National Aluminium Company key Products/Revenue Segments include Aluminium, Alumina, Export Incentives, Wind Power, Other Operating Revenue for the year ending 31-Mar-2022.


Financials
For the quarter ended 31-03-2023, the company has reported a Consolidated Total Income of Rs 3726.76 Crore, up 11.04 % from last quarter Total Income of Rs 3356.30 Crore and down -17.04 % from last year same quarter Total Income of Rs 4492.10 Crore. Company has reported net profit after tax of Rs 521.88 Crore in latest quarter.

Investment Rationale
Price sustaining above 20 day EMA and trading in upward rising channel suggesting further upward momentum in coming sessions.

Promoter/FII Holdings
Promoters held 51.28 per cent stake in the company as of 31-Mar-2023, while FIIs owned 15.95 per cent, DIIs 13.3 per cent.