Rakesh Jhunjhunwala Portfolio With aluminum prices hitting an all-time high in global trading, stock market experts have become overly optimistic about the shares of National Aluminum Company or NALCO. He said National Aluminum Company Ltd is expected to get margin benefit as the company deals in aluminum metal and rising aluminum prices will boost its margins. He further said that Rakesh Jhunjhunwala Stock Bull is in trend and it may go up 160 each level in the short term.
According to stock market experts, the multibagger Rakesh Jhunjhunwala-backed company is expected to deliver higher numbers in the coming quarters as the company deals in aluminum. He said that the prices of metals especially copper, zinc and aluminum are increasing continuously in the global markets. On Wednesday, the price of aluminum in the international market reached its lifetime high, implying that Nalco’s earnings will move north as its margins will increase following the rise in aluminum prices. Secondary market experts are predicting fresh breakout in this multibagger stock 130 too.
Speaking on the reasons why the Multibagger Rakesh Jhunjhunwala Portfolio is bullish on the stock; Saurabh Jain, Assistant Vice President – Research at SMC Global Securities said, “NALCO will benefit from rising aluminum prices in the international market as this jump in metal prices will increase its margins. As it is going to have a long-term impact on the company Due to this aluminum price margin advantage, the PSU company is expecting better quarterly numbers. Nalco shares can be a good bet if one is looking to buy some aluminum stocks.”
Fresh breakout expected in this multibagger stock; Anuj Gupta, Vice President, IIFL Securities said, “The share price chart of NALCO indicates that there is an upside bias from top to bottom, which means that the stock is in a bullish trend. 130 and it may give a breakout at this level due to the uptrend. After the breakout, it may go up 160 each level. This counter can be bought at current levels for short term target 160. However, stop loss must be maintained 104 Taking a position in this multibagger stock.”
Rakesh Jhunjhunwala’s stake in NALCO
As per the shareholding pattern of NALCO for October to December 2021, Rakesh Jhunjhunwala holds 2.50 crore shares of NALCO, which is about 1.40 per cent of the total issue paid-up capital of the company.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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