One of the largest bauxite, alumina, aluminium, and power conglomerates in the nation is National Aluminium Company Limited (NALCO), a “Navratna” company under the Schedule “A” category of CPSEs. It was established on January 7, 1981, and Bhubaneswar served as its registered office. The company has seven stockyards around the nation in addition to regional sales offices in Delhi, Kolkata, Mumbai, and Chennai.

NALCO Dividend

“We would like to inform that, the Board of Directors in their meeting held today i.e. 13.11.2024 have approved payment of interim dividend @ Rs.4/‐ per share (80% on Face value of Rs.5/‐ each) on the paid‐up equity share capital of Rs.918.32 crore for the financial year 2024‐25,” said the PSU company in a regulatory filing.

NALCO Dividend Record Date

“The Company has fixed Friday, the 29th November, 2024 as Record Date for payment of above Interim Dividend for the financial year 2024‐25 to the eligible shareholders whose name appear: a) As beneficial owners as at the end of the business hours on Friday, the 29th November, 2024 as per the beneficial owners position to be downloaded by NSDL and CDSL in respect of the shares held in the demat form and; b) As members in the Register of Members of the Company, after giving effect to transmission/transposition if any, in physical form lodged with the Company on or before Friday, the 29th November, 2024. The payment of interim dividend shall be made on 11.12.2024 to all eligible shareholders, whose names appear in the Register of Members as on Record Date,” said NALCO in a regulatory filing.

NALCO Financials

For the quarter that ended in September 2024, National Aluminium Company Limited (NALCO), the Navratna CPSE under the Ministry of Mines, Government of India, reported a remarkable 415 percent increase in net profit at Rs. 1062 crore, up from Rs. 206 crore during the same time the previous year. The company’s net income for the quarter was Rs. 4001 crore, a 32% growth over Q2 of FY 23-24, when it was Rs. 3044 crore. With a 199 percent increase in net profit to Rs. 1663 crore from Rs. 556 crore for the same time last year, NALCO has also demonstrated strong performance in the first half of the current fiscal year. With the largest total domestic metal sales of 2,21,966 MT during the first half of the year (H1), NALCO recorded its best-ever growth in domestic metal sales.

NALCO Share Price Target

Mandar Bhojane – Technical & Derivative Analyst at Choice International Limited said, “NATIONALUM is exhibiting strong bullish momentum, currently trading at an all-time high of 259.5 levels. The recent breakout above the crucial resistance at 245 levels is a significant technical development, supported by robust trading volumes, reinforcing the strength in the stock. The breakthrough suggests a potential continuation of the upward trend, offering an optimistic outlook for investors. Additionally, NATIONALUM is trading above key moving averages, including the short-term (20 Day), medium-term (50 Day), and long-term (200 Day) EMAs, further affirming its bullish stance. The momentum indicator, Relative Strength Index (RSI), is at 68.87 levels.”

“For traders, keeping an eye on the strong support near 245 levels is advisable, as a breach of this level could signal a shift in sentiment. Overall, NATIONALUM current technical setup suggests a favourable environment for further upside potential, provided traders and investors remain vigilant to potential reversals and closely monitor key support and resistance levels. Based on the above analysis we recommend buying NATIONALUM and the CMP of 256.85 with a stop loss of 245 for the target of 275,” the analyst further recommended.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.

Story first published: Saturday, November 23, 2024, 9:19 [IST]