NALCO share price up 11% ahead of Q4FY21 results today – Check what analyst says about the stock

Ahead of its fourth-quarter results scheduled for today, the shares of National Aluminium Company (NALCO) are trading near their all-time high level of Rs 81.3 per share, surging around 11 per cent on the BSE intraday trade today. The stock on May 10, 2021, had hit a 52-week high of Rs 82.3 apiece. 

NALCO on June 17 had announced that “a meeting of the board of directors of the company will be held on Monday, 28th June 2021 inter-alia, to consider and approve the standalone and consolidated audited financial results of the company for the quarter and year ended March 31, 2021.” 

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The stock on Monday opened marginally over two per cent higher to Rs 75 per share and has been surging since then, at around 02:35 pm, the stock rose nine and a half per cent to Rs 80.45 per share on the BSE during today’s trade. 

In this regard, the market analyst Sacchitanand Uttekar, the overall metal sector is in a rally for the last couple of sessions, with Tata Steel and Jindal Steel being the most favourite pick of the analyst, each trading in the green with over 1.5 and three per cent respectively on the BSE today. 

Uttekar mentions, NALCO will likely breach its current all-time high level and would reach Rs 90-95 per share as a target termed event (Q4 results) trigger. S&P BSE Metal is up over one and a half per cent to 18993.78, with NALCO leading the pack.