Stock To Buy: Multibagger PSU Navratna To Consider Dividend On Feb 13, TP Rs 175

Board of Director of multibagger public sector undertaking National Aluminium Co Ltd will hold meeting on February 13, 2024 to consider interim dividend for the financial year 2023-24. Earlier on February 1, 2024, the company informed via its BSE filing about upcoming meeting on Feb 13, 2024 to consider financial results. Last trading price of NALCO shares on BSE is Rs 160.65 apiece with intraday fall of 1.20%.

National Aluminium Co shares offered shareholders return of 109% in last 1-year and gained 71% in last 3-months only. Brokerage firm BP Wealth assigned buy call to National Aluminium Co shares and assigned target price of Rs 175 in its latest brokerage report. Check details below:

BP Wealth Recommends Buy: According to BP Wealth, "Taking cognizance of potential cost efficiencies and improvement in its topline, we give NALCO a "BUY" rating. We value the stock at an FY25E EV/EBITDA of 6.7x to arrive at a target price of Rs. 175 (15% upside from CMP)." If you buy NALCO shares now at last trading price of Rs 160.65 apiece, you can fetch potential gain of 8.93%.

NALCO To Consider Dividend: As per the BSE filing of the company dated February 7, 2024, "Further to our letter dated 01.02.2024 and in terms of Regulation 29 of SEBI (LODR) Regulations, 2015, this is to inform you that the meeting of the Board of Directors of the Company scheduled to be held on Tuesday, the 13th February, 2024 will consider interalia 2nd Interim Dividend, if any for the financial year 2023-24."

NALCO To Consider, Approve Financial Results: NALCO's BSE filing dated February 1, 2024 stated, "Pursuant to Regulation 29 and Regulation 33 of SEBI (LODR) Regulations, 2015, we would like to inform that a meeting of the Board of Directors of the Company will be held on Tuesday, the 13th February, 2024 to consider inter-alia the Unaudited (Standalone & Consolidated) Financial Results for the quarter and nine months ended 31.12.2023."

National Aluminium Shares Performance & Return: The 52-week high price of National Aluminium shares on BSE is Rs Rs 165.60 apiece and 52-week low price is Rs 75.65 apiece, respectively. Its market capitalisation is Rs 29,505.49 crore. National Aluminium shares soared 69% in last 6-months, rallied 35% in last 2-years, and offered return of 220% in last 3-years. The scrip rallied 173% in last 5-years.

NALCO Financials: The state-owned PSU on November 9, 2023 declared a surge of 49.3% in its consolidated profit to Rs 187.35 crore for September quarter as against the consolidated net profit of Rs 125.43 in the corresponding quarter of last year, as per its BSE filing. It announced its consolidated income during the July-Sept quarter at Rs 3112.02 crore as against Rs 3558.85 crore in the similar quarter of last year.

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 has been picked from the brokerage report of BP Wealth. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.