40% Dividend: NALCO Declares 72% Jump In Q1 Net Profit, Shares Gain 118% In 2-Yrs

National Aluminium Co Ltd shares today slipped 1.81% as the Board of Directors recommended final dividend and quarterly results. Current market price of National Aluminium Co shares on BSE is Rs 174.00 per share. NALCO shares offered return of 84% in last 1-year and gained 118% in last 2-years. The company's market capitalisation stood at Rs 32,040.04 crore. Life Insurance Corporation Of India - P & Gs Fund has 3.51% stake in NALCO with 64,471,776 shares of the company. FII/FPI have increased holdings from 8.99% to 10.43% in June 2024 quarter. Check details below:

National Aluminium Co Ltd Recommends Dividend: As per the exchange filing of NALCO dated August 12, 2024, "the Board of Directors has recommended final dividend @ 2/‐ per share (40% on face value of Rs.5/‐ each) for the financial year 2023‐24, subject to the approval of shareholders in the ensuing 43rd Annual General Meeting (AGM). The final dividend @ 2/‐ per share, as recommended by the Board of Directors, if approved in the ensuing 43rd AGM, will be paid within a period of 30 days from the date of declaration, as per the provisions of the Companies Act, 2013."

The above final dividend is in addition to the 1st interim dividend of Re.1/‐ per share and 2nd interim dividend of Rs.2/‐ per share (Total of Rs.3/‐ i.e. 60% on face value of Rs.5/‐ each) already paid during the financial year 2023‐24, added the exchange filing.

How To Be Eligible For NALCO Dividend? Record date plays key role in declaring eligibility of shareholders for dividend. Shareholders whose name appear in company's shareholders record as on the record date will become eligible to receive dividend income. Record date is the specific day on which a company confirms the list of shareholders eligible for its dividend distribution. NALCO has yet to issue the record date for dividend.

National Aluminium Co Ltd Declares Q1 Results: The company for the quarter ended June 30, 2024 declared its standalone net profit at Rs 601.2 crore, up 72.1% as compared to Rs 349.39 crore declared in the corresponding quarter last year. Its standalone revenue from operations slipped 10.2% to Rs 2856.10 crore as compared to Rs 3178.69 crore in the corresponding quarter of last year. The company's total income declared at Rs 2916.62 crore for June 2024 quarter. from Rs 3226.88 crore in the corresponding period of last year. The PSU's EBITDA margin grew 32.7% as against last year's 18.7%.

National Aluminium Co Ltd Shares Performance: The 52-week high price of NALCO share on BSE is Rs 209.60 per share (as on 09/07/2024) and 52-week low price is Rs 86.23 apiece (as on 18/08/2023). NALCO shares slipped over 11% in last 1-month, rose 28% year-to-date, surged 106% in last 3-years, and rallied 298% in last 5-years.

NALCO Dividend History: NALCO announced 47 dividends since August 22, 2000. In last 1-year, NALCO announced an equity dividend amounting to Rs 4.00 per share. At the current share price of Rs 174.00, National Aluminium Company offers a dividend yield of 2.33%.

NALCO Share Price Target

Hardik Matali - Derivative Analyst at Choice Broking said, "NALCO is currently experiencing a sideways to bearish trend, trading around 174. The stock has attempted to surpass its short-term (20-day) EMA and medium-term (50-day) EMA but has struggled to sustain these levels, indicating a potential decline. With the stock approaching strong support zones near the 170 level, a break below this could lead to further declines toward the 158-150 range. Conversely, if NALCO manages to hold its position above the 185 level, it could potentially rise towards the 200-210 range."

"The Relative Strength Index (RSI) is currently trading near 39 levels and is trending downward, signaling decreasing buying momentum. This downward movement suggests that the stock may continue to decline, presenting a challenging outlook for investors. Overall, the analysis points to a cautious outlook for NALCO. Investors should carefully monitor the stock's price movements and implement appropriate risk management strategies to protect their investments," he further added.

About: National Aluminium Company Limited (NALCO) is a Schedule 'A' Navratna CPSE established on 7th January, 1981 having its registered office at Bhubaneswar. It is one of the largest integrated Bauxite-Alumina-Aluminium- Power Complex in the Country. At present, Government of India holds 51.28% of paid up equity capital.

Disclaimer:

The stock highlights the dividend and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.