Nalco shares hit all-time high after PSU stages a good Q4 show

Nalco share price today BSE, Nalco Q4 results 2024: Shares of National Aluminium (Nalco) on Monday, May 28 hit an all-time high on D-Street after the PSU reported good operational results for the January-March period. Nalco shares rose as much as 6.2 per cent to a lifetime high of Rs 206.3 on BSE in opening deals. The counter closed at Rs 191.8, down 1.31 per cent on NSE.

Nalco Q4 results 2024: Profit rises two-fold 

On Monday, the state-owned Nalco posted two-fold rise in consolidated profit to Rs 996.74 crore for the March quarter on the back of lower expenses.

The consolidated total income during the quarter dropped to Rs 3,663.09 crore from Rs 3,726.76 crore in the year-ago period. The company's expenses in the fourth quarter of FY24 dropped to Rs 2,720.42 crore from Rs 3,160.50 crore a year earlier.

NALCO Q4 reviews: Results beat analysts' expectations, operational performance strong says Anil Singhvi

Zee Business Managing Editor Anil Singhvi highlighted that NALCO shares have already risen 25 per cent in three months and 140 per cent in a year. He expects profit-booking at higher levels in the stock and suggested investors avoid chasing it. 

The stock exited the F&O ban on Tuesday. 

What does Nalco do?

Nalco is a Navratna PSU under the ministry of mines. It is one of the largest integrated bauxite-alumina-aluminium-power complexes in the country.

The company has formed a JV company -- Angul Aluminium Park Pvt Ltd' (AAPPL) -- with Odisha Industrial Infrastructure Development Corporation (IDCO) to give a boost to ancillary, upstream and downstream products related to the aluminium industry.

(With PTI inputs)

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