Celebrity investor Rakesh Jhunjhunwala has picked up 2,50,00,000 equity shares or a 1.36 per cent stake in National Aluminium Company Limited (NALCO) in the June-September quarter, the company revealed in a shareholding pattern on the BSE on Tuesday.

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The Big Bull of the Indian share market, along with his wife Rekha and associates publicly holds around 38 stocks in finance to tech and retail to pharma sectors and also manage asset firm Rare Enterprises.   

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The stock jumped near 7 per cent to Rs 103 per share on the BSE, to eventually close over 5 per cent higher to Rs 101.25 per share as compared to a 0.25 per cent rise in the BSE Sensex on Tuesday.

According to September quarter shareholding pattern, ICICI Prudential Commodities Fund holds 18,39,20,682 equity shares (10.01 per cent) in the Mutual Funds Category, while Societe Generale in Foreign Portfolio Investors category holds 27,95,95,847 equity shares (15.22 per cent).

NALCO is a government-owned company having integrated and diversified operations in mining, metal and power under the ownership of Ministry of Mines. The stock of the company for the last three days has been placed under F&O or derivatives segment ban.

The market analyst and ChoiceBroking Executive Director Sumeet Bagadia advice to hold NALCO shares as the counter has started sustaining over Rs 100 per share level, lately and believe 20-25 per cent upside move is likely going forward. 

He adds, the market would soon witness upside of Rs 115-125 per share level soon in the scrip with a support of Rs 90-91 per share support at the downside level.

The stock in the last six months has outperformed the market to gain over 84 per cent, as compared to a 26 per cent rise in the S&P BSE Sensex during the same period.