Nalco Q1 net profit rises 61% to ₹558 crore
NALCO: The brokerage has a target price of ₹150 per share for the stock, indicating an upside of 24 percent. Nalco is the only pure equity play on Aluminium and Alumina commodities in India. Aluminium is expected to remain in a deficit a second consecutive time in CY22 supporting higher prices. The recent geopolitical tension in Europe has pushed prices to a 13 year high level above $3,300/t and Nalco is well placed to benefit from the higher prices, said Axis.